Xinhua Silk Road: Hangzhou propels integrated circuit industry, aiming at high-end chip production

BEIJING, Sept. 26, 2019 /PRNewswire/ -- Hangzhou of east China's Zhejiang Province, known as a digital capital in China, is beefing up efforts to seize the opportunity of the next golden development period of integrated circuit (IC) and high-end chip industry.

An official from Hangzhou Investment Promotion Bureau introduced that leading IC enterprises of Hangzhou are mostly based in the Binjiang district, and the city will integrate the enterprises scattered in other districts for overall development.

"According to the current development plans, Hangzhou will extend its IC industry from designing to producing and highlight chip production in key areas, to build core competitiveness of the industry and construct an industry cluster," said the official.

The city has issued several documents and has gradually found its own development path. In a development plan issued in 2017, Hangzhou set the goal for total income from main business of the city's IC enterprises at 50 billion yuan by 2020.

Hangzhou's solid foundation for IC industry development as well as sound planning and implementation road-map makes a promising future of the industry. In fact, the scale of Hangzhou's IC industry has been expanding, especially in IC designing in the recent years.

According to the report on Hangzhou's IC designing industry, the income from main business of the city's IC companies reached 20.5 billion yuan in 2018, and the total value of the IC designing industry amounted to 12.7 billion yuan, with a growth rate of more than 30 percent, overtaking Wuxi of Jiangsu Province at the fourth place of China.

In Zhejiang, Hangzhou has become an absolute core of IC designing industry, as more than 85 percent of Zhejiang designing companies are located in Hangzhou and they generate over 95 percent of revenue of the industry. Besides, Hangzhou has made remarkable progress in packaging, materials and equipment of IC, and silicon materials production is already in the lead in China.

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SOURCE Xinhua Silk Road Information Service