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China rolls out incentives for IC, software industries

Xinhua | Updated: 2020-08-05 13:51

A worker checks the status of assembled semiconductors at a factory in Southwest China's Chongqing municipality. [Photo/Xinhua]

BEIJING - China has rolled out a set of policies to support the high-quality development of the integrated circuit (IC) and software industries.

The measures include tax incentives for companies in the IC and software industries, financial support from government-invested funds and improved intellectual property rights protection for the firms, as well as policies to promote related research, trade, education, market application and international collaboration, according to a statement released by the State Council.

IC and software companies of all ownership types that were set up in China can enjoy the policy incentives, the statement said, adding that the country will improve its business environment for international companies in the fields to invest and develop.

Relevant government departments and local governments are required to formulate matching policies as soon as possible to push the high-quality development of the industries, the statement said.

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