Chinese Dream for IC Powerhouse Is Coming True
Alan Patterson
EETimes (11/18/2014 07:35 AM EST)
China’s initiative comes as the nation imports more than 90 percent of the semiconductors it uses to assemble mobile devices such as Apple’s iPhone and iPad. The nation’s chip imports, exceeding $160 billion in value, cost more than its oil imports.
China is targeting a compound annual growth rate (CAGR) for the domestic chip industry of 20 percent between now and 2020, with potential financial support from the government of up to 1 trillion renminbi (US$170 billion) over the next five to 10 years, according to a report this year by market consulting firm McKinsey & Co. After years of failed attempts, China’s industry is poised to lead global production growth.
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