Ding Wenwu from the Ministry of Information Industry (MII) disclosed at the China Integrated Circuit (IC) Industry Annual Meeting 2006 that the Chinese government will formulate new policies to encourage the development of China's IC industry.
According to Yu Zhongyu from the China IC Industry Association, the policy-making plan for the IC industry has been written into the State Council's legislation plan.
Meanwhile, a new "11th Five-Year Plan" for the IC industry is also on the way. It earmarks as much as CNY300 billion to be invested within the IC industry during the 11th Five-Year Plan period, developing five CNY3-5 billion IC enterprises, ten CNY1-3 billion enterprises and ten 8-inch and five 12-inch production lines.
The China IC Industry Association says China's IC industry will grow by 30% annually in the next five years and by 2010, the business revenue from the design, manufacturing and testing is expected to reach CNY40-60 billion, CNY60-80 billion and CNY130-160 billion respectively.