(ECNS) -- China is an important integrated circuit (IC) market in the world, and its IC industry sales for the first time exceeded one trillion yuan ($148.7 billion) in 2021, said an official on Tuesday.
The country's IC industry saw a compound growth rate of 17 percent from 2018 to 2021, more than three times the global growth rate over the same period, said Xu Xiaolan, vice minister of Industry and Information Technology at a press conference themed "China in the Past Decade."
The Chinese government has adhered to the principle of open development, and it is committed to building a global industrial and supply chain with close cooperation, Xu added.
"We welcome global IC companies to build R&D, production and operation centers in China, and we encourage more outstanding entrepreneurs and high-quality technical and management talent teams to develop in China and share the development dividends brought by the growth of market demand,” She said.
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