SHENZHEN, May 31 (Xinhua) -- China's southern boomtown Shenzhen plans to achieve sales of 200 billion yuan (about 29 billion U.S. dollars) from its integrated circuit (IC) industry by 2023, according to a recent industry plan.
The sales of IC design are expected to exceed 160 billion yuan while that of IC manufacturing is expected to reach 40 billion yuan, according to the plan released by the Shenzhen Municipal government.
Shenzhen has been an important base for China's IC industry. In 2018, the city raked in 89.8 billion yuan from its IC industry, with IC design contributing 75.9 billion yuan, ranking top in the country, according to the China Semiconductor Industry Association.
The plan also noted that the city will improve the IC manufacturing and packaging sectors, accelerate the breakthrough on core technologies, and cultivate leading IC companies and industry clutters.
China's IC industry sales reached 653.2 billion yuan in 2018.