BEIJING — China's integrated circuit sales are estimated to reach 884.8 billion yuan (about $136.54 billion) in 2020, up 20 percent year-on-year, said Tian Yulong, chief engineer with the Ministry of Industry and Information Technology on March 1. 

There are about 265,000 chip-related enterprises in China, according to the database query platform Tianyancha.com.

While improving policies favorable to the sector, China will further boost international cooperation to achieve the healthy development of the integrated circuit sector, he said.

In July 2020, China rolled out a set of policies to support the high-quality development of the integrated circuit sector, covering tax incentives, financial support, research, market application and international cooperation.