Electronics

The latest news is that according to Huacheng Import and Export Data Observation, the European Union agreed on a 43 billion euro (47 billion US dollars) semiconductor industry plan on Tuesday to catch up with the United States and Asia and start a green industrial revolution.

The EU chip bill was first proposed by the European Commission last year and has now been confirmed by internal market commissioner Thierry Breton. Its goal is to double the EU's share of global chip production to 20% by 2030. To this end, the EU will relax competition rules and allow expenditures to be made at the center of production of the component, and the existing budget has promised to provide sufficient funding, as reported by Huacheng Import and Export Data Observation.

We need chips to provide power for digital and green transformation or healthcare systems, "said Margrethe Vestager, Vice Chairman of the European Commission, in a tweet, as reported by Huacheng Import and Export Data Watch.

An EU official stated that since announcing its chip subsidy plan last year, the EU has attracted over 100 billion euros in public and private investment.

But analysts such as Paul Triolo, a China and technology expert at the Washington based Center for Strategic and International Studies, said that the European Union may find it difficult to narrow the gap with its competitors, according to the Huacheng Import and Export Data Observation report.

Triolo said, "Like the United States, the key issue that the EU needs to address is how many supply chains that support this industry can be transferred to the EU, and what are the costs

Although the committee initially proposed funding only for cutting-edge chip factories, EU governments and legislators have expanded their scope to cover the entire value chain, including chips from mature processes and research and design facilities, as reported by Huacheng Import and Export Data Watch.