Comment: Chinas high -amount chip investment may be pressed by the suspension ke

Source: Bloomberg

China will temporarily relieve the huge sums of money to build the country's chip industry and want to fight against the United States in this field, because the national crown disease and epidemic situation broke out again, curbing the domestic economy and fiscal capabilities.

According to people familiar with the matter, top officials are discussing the alternative of high subsidies -these subsidies not only have not produced much results, but also lead to corruption issues and US sanctions.They said that some officials still strive to implement an incentive plan of up to RMB 1 trillion ($ 145 billion), but other decision makers have lost interest in the development path of investment dependence that failed to achieve the expected results.

The above -mentioned people who are unwilling to have the above -mentioned people who are unwilling to be famous said that officials turned to help local chip manufacturers, such as reducing the cost of semiconductor materials.

This will marked that the attitude of Beijing has changed for this key industry that is considered a key industry that is challenged by the United States and the key to ensuring China's military capabilities.This highlights the turmoil of the Chinese economy, which has greatly weakened Beijing's financial resources and loses its ambition to the development of the chip industry.From environmental protection to national defense, the expenditures in other key areas may also be affected.

It is unclear whether Beijing is considering which other chip industry policies, or whether it will eventually decide to abandon the investment dependent road -in the past few decades, a large investment has achieved first -class in promoting the development of China's manufacturing industry in the development of China's manufacturing industry.Effect.The Chinese government may still decide resources in other fields and "blood transfusion" to the chip industry.Representatives of the News Office of the State Council of China and the Ministry of Industry and Information Technology did not immediately reply to the fax seeking for comment.

But the above discussion has formed a sharp contrast with the old situation: China has invested a lot of resources in the chip industry before, including the establishment of a national integrated circuit industry investment fund in 2014.

and this fund is the most dissatisfied place for the government.The National Integrated Circuit Industry Investment Fund is known as the "Big Fund" in the industry. It raised about $ 45 billion in funds and supported many companies, including the leader of Chinese chip manufacturing, SMIC and the Yangtze River storage.

The heavy investment in this industry in the past ten years has not brought a breakthrough that can make China and the United States sit on a flat way, which has frustrated the Chinese government.In fact, SMIC and the Yangtze River storage -can be said to be the two top semiconductor companies in China, which has been sanctioned by the United States.

Last summer, Chinese seniors ordered a series of anti -corruption investigations to the industry in the industry, blaming the waste and inefficient investment on corruption.People familiar with the matter said that the status of the big fund may not be guaranteed.

and semiconductors have increasingly become a key battlefield for Sino -US competition.Xi Jinping has repeatedly talked about the urgency of solving the problem of "card neck".

As the United States adopts an isolated China, Xi Jinping has asked high -level government to achieve autonomy in key technologies.In October last year, he vowed to "speed up" the implementation of major national scientific and technological projects to enhance independent innovation capabilities, saying that "the new national system must be improved, the national strategic technology power is strengthened, and innovation resources are optimized", and key science and technology breakthroughs are achieved.

People familiar with the matter said that Chinese officials have recently discussed whether to provide additional incentives to domestic semiconductor companies.They said that because the Beijing side has spent a lot of money on epidemic prevention in the past few years, many people think that it is very difficult to raise a considerable amount of funds.

They also said that Chinese officials now require local semiconductor materials suppliers to reduce prices and provide support for their domestic customers.

Weak tax revenue, reduced land transfer income, and cost prevention costs have made the government's finance tighter, which led to a record of fiscal deficit last year.