China's National Development and Reform Commission, Ministry of Information Industry and General Administration of Customs and State Administration of Taxation have released the names of the first batch of 94 integrated circuit enterprises which are going to receive support from the government.

The 94 companies are 26 chips manufacturers including Wuhan Xinxin Integrated Circuit Manufacturing Company and Wuxi Huarun Microelectronics Company. This list also includes 51 encapsulating test companies such as Weixun Lianhe Semiconductor (Beijing) Co., Ltd and Intel Product (Shanghai) Co., Ltd.

Sixteen material suppliers including Youyan Semiconductor Material Holding Co., Ltd. and Shanghai Tongyong Silicon Material Co., Ltd. also round out the list.

These companies will receive benefits such as preferential policies in funding, taxation, talent training and financing. The Chinese government wants to enable these companies to compete on a global scale and by providing them funds they hope to encourage rapid growth.