China vows to support chip industry development

China is planning to further support the development of the integrated circuit (IC) industry, said Chinese Vice Premier Liu He at a symposium with companies from the chip industry on Thursday.

Liu highlighted the importance of making better use of both government and market resources together during the symposium which he chaired, according to a report from the Xinhua News Agency.

Relevant authorities should formulate IC industry policies in line with national conditions, set pragmatic goals and development ideas, guide long-term investment, and give equal preferential policies to domestic and foreign talents, Liu said.

"We must meanwhile attach great importance to the role of market forces and industrial ecology, establish a research mechanism with enterprises as the main body, and rely on entrepreneurs to achieve the sound development of the IC industry," Liu said.

"We must always adhere to international cooperation, expand opening-up, and firmly maintain the stability of the global industrial and supply chains," said Liu.

(Cover image via CFP)

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