Hong Kong lawmakers approve HK$2.8 billion funding to set up semiconductor centre amid US-China tech war
- Microelectronics research and development institute tasked with spearheading semiconductor collaboration, with small firms to benefit from pilot production lines
- But lawmaker in Finance Committee warns of impacts of possible sanctions, which he says may prevent city from importing technology it needs to produce chips
But one lawmaker on Friday warned of the impacts of possible sanctions, which he said could prevent the city from importing equipment it needed to produce the chips.
The Legislative Council’s Finance Committee gave the green light for the funding in a three-hour meeting, paving the way for the establishment of the microelectronics research and development institute, which would spearhead collaboration on third-generation semiconductors among universities, research and development centres, and the industry.
The committee also approved HK$10 billion to go towards the New Industrialisation Acceleration Scheme.
Yuen Long’s InnoPark will host the centre, which will house two pilot production lines for third-generation semiconductors.
Officials said the facility would allow start-ups as well as small and medium-sized companies to conduct trial runs before they began to commercialise their products.