China wants to become a leader in electronic chip manufacturing by 2030 and its government has set out a blueprint to help the country do so.
IDG News Service reports that Beijing released policy guidelines to develop the semiconductor-making sector on Tuesday.
The plans include the establishment of a "financial platform and policy environment" by 2015 to support the local chip industry.
In addition, the government is setting up a committee to develop the industry and is starting a fund to support industry players. And local banks will be encouraged to invest in the market.
In a separate statement, China's Ministry of Industry and Information Technology said China not only wants to sharpen its competitive edge, but is also trying to reduce its reliance on foreign chip makers. This reliance is reflected by the statistic that the country's integrated circuit imports were worth US$231 billion in 2013.
However, progress is starting to be made. For example, in May, Intel Corp reached an agreement with Chinese mobile chipmaker Rockchip to make chips for tablets running Google's Android platform.