China readies massive $70 billion incentive plan for domestic chipmakers

China on Friday announced that it is awarding an incentive package worth $70 billion to finance its booming domestic chipmaking industry, according to Bloomberg. Officials involved in the talks are allegedly reviewing proposals that would set aside between 200 billion yuan and 500 billion yuan, or about $28 billion to $70 billion, to back chipmakers. […] source: https://www.cryptopolitan.com/china-70-billion-for-domestic-chipmakers/