Jiangsu Kunshan Launches 10 Billion RMB Integrated Circuit Industrial Investment Fund

To promote the development of the integrated circuit (IC) industry, Kunshan Development Zone of Jiangsu Province of China recently issued Provisional Opinions on Promoting the Development of the Integrated Circuit Industry of Kunshan Development Zone ( Provisional Opinions), launching several financial support programs for IC companies in the Zone. Under the Provisional Opinions, Kunshan Development Zones is to launch a RMB 10 billion Kunshan Cross-strait Integrated Circuit Industry Investment Fund, with an initial fund of RMB 1 billion, to support IC companies in the Zone, support M&A with outside IC companies, and attract new investment in the Zone. The Provisional Opinions also encourage banking financial institutions to design special IC loans for IC companies and prioritize IC companies in providing credit loans. The Development Zone further pledges to provide various grants to support the growth of IC companies, including subsidies for plant rent and purchase, subsidies for R&D, and subsidies for sales growth.