BUSINESS China's integrated circuit industry adds 19,000 firms in Q3

BUSINESS

China's integrated circuit industry adds 19,000 firms in Q3

Xinhua

06:49, October 26, 2020

File photo: VCG

BEIJING, Oct. 25 (Xinhua) -- Nearly 19,000 new enterprises were added to China's integrated circuit (IC) industry in the third quarter of 2020 as the sector revved up growth momentum, according to data from database query platform Tianyancha.com.

By mid-October, the country had seen over 48,000 newly registered IC-related firms, with the total number of such firms surpassing 230,000.

China's IC industry maintained its growth momentum despite the impact of the COVID-19 epidemic in the first half of the year, according to the China Semiconductor Industry Association.

The industry's sales revenues totaled 353.9 billion yuan (about 53 billion U.S. dollars) in the January-June period, up 16.1 percent year-on-year, data from the association showed.

Official data showed the scale of China's IC industry grew 15.8 percent year-on-year in 2019 to over 750 billion yuan.

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