By Dai Qi
Nanjing City is expected to set up funds for investment in the integrated circuit industry, worth USD 20 billion, the China Securities Journal reported on Wednesday.
The city declared that by 2025, its overall sales revenue is expected to reach RMB 150 billion, by leading the country in several specific areas.
Nanjing's local government said that in the future, it would give full play to the financial market, build a mechanism for capital support for industrial development and promote the deep integration of capital and the industry.
Analysts predicted that the fund would facilitate in the development of the integrated circuit industry in Nanjing and benefit many listed companies as well.
On July 6, Huatian Technology released an announcement, saying that to further improve the company's industrial plan it intends to invest in the construction of an advanced sealing and testing industrial base for integrated circuits in Nanjing.
The project has a total investment of RMB 8 billion and will be built in three phases, mainly for packaging and testing of integrated circuit products such as memory, Micro-Electro-Mechanical Systems (MEMS), artificial intelligence and so on, according to the announcement.
A person in charge of NARI Technology Development said that the company is now stepping up investment in IGBT modules and the design and development of chips.
"The launch of the integrated circuit industry investment fund in Nanjing is expected to have a beneficial impact on the company's distribution in the field of chips," said the person.
In addition to companies from the upstream industry, those from the downstream business will also benefit.
Wiscom System Co., Ltd., a firm focusing on smart energy and city business in China, told the China Securities Journal that at present, the company is strategically positioning itself in the field of "integrated energy services."
The company's products such as smart transmission and transformation, intelligent distribution networks and modular substations all have a certain demand for related chips, said the company.
