International Observation | Biden signed the "Chip Act" to ensure the long -term leadership of the United States, and the US media believes that there are limited stimuli in the industry

Cover reporter Chen Ganlu intern Han Weiwei

On August 25, local time, US President Biden signed an administrative order aimed at the implementation of the 2022 Chip and Science Act. The administrative order will explain in detail the six priorities of the implementation of chip laws in the next few months, including speed, supervision and relationships with the private sector. Regarding the bill, the Chinese Ministry of Foreign Affairs and the Ministry of Commerce had previously stated that China has resolutely against the disruption of international trade.

Secretary of State, Treasury Secretary, and Minister of Defense support the "Chip Law"

According to the White House website, the administrative order signed by Biden on the 25th has set up six priority matters to implement the "Chip and Science Act", and a cross -departmental guidance committee composed of 16 people. Waiting for three people to be the chairman, other members include US Treasury Secretary Jeonte Yellen, Minister of Commerce Gina Raymond, Secretary of State Anthony Brinken, and Minister of Defense Laud Austen.

Biden's administrative order also lists six priority matters for the Federal Government to implement the law: protect taxpayer funds; meet national security and economic benefits; ensure the long -term leadership of the United States in the industry; attract investment in civil sectors; And the interests of minorities or rural enterprises have brought extensive benefits; strengthen and expand regional production and innovation hubs.

As we all know, in the U.S. government system, Secretary of State, Treasury Secretary, and Minister of Defense are the three most important officials of the cabinet. Biden let the "three giants" join in this committee to join in the "Chip and Science Act" Unimpeded, obtaining the most effective execution and power green lights. This also reflects the determination and strength of the Biden government to implement the "Chip and Science Act".

What does "Chip Law" contain?

On August 9, US President Biden signed a $ 280 billion "Chip and Science Act", which aroused global attention. This bill is the most important intervention in the US government's industrial policy for decades.

The bill will provide US $ 52.7 billion in government subsidies for US semiconductor research and development, manufacturing and labor development within 5 years, of which 39 billion U.S. dollars will be used for incentive measures for semiconductor manufacturing. chip. In addition, the bill will provide about $ 200 billion in scientific research. The investment target areas include artificial intelligence, quantum computing, wireless communication and precision agriculture.

However, the most "hard core" content of the bill is that any company that requires the US subsidy must make chips in the United States.

It can be said that many of the bills of this bill point to China. Just as a comment article in Japan's "Nikkei News" says that this bill is actually "forcing semiconductors to choose between China and the United States."

In this regard, at the regular press conference of the Chinese Ministry of Foreign Affairs held on August 9, Wang Wenbin, a spokesman for the Chinese Ministry of Foreign Affairs, said, "The bill is an example of economic coercion in the United States. It will not block the pace of China's scientific and technological development and industrial development. "

The Ministry of Commerce of China had previously responded that the bill provided huge subsidies to the US local chip industry, which is a typical differentiated industrial support policy. Some clauses restrict the normal economic and trade and investment activities of enterprises in China will distort the global semiconductor supply chain and disturb the international trade.

The chip bill is very exciting to the US chip industry

It is worth mentioning that on August 10th after the bill was passed, the US chip stock group fell sharply, and the Philadelphia semiconductor index closed 4.6%. The market value is fascinating. Semiconductor, chip companies, and American media including the United States are not optimistic about this bill.

The United States "Congress" believes that the bill is unlikely to have an immediate actual effect on the US domestic supply chain- "After the bill is implemented, it may not have a significant impact on the development of the chip industry in the United States in the short term. It has to be observed and full of uncertainty. The large -scale subsidy of the chip this time is also a distorted market rule. In the end, it may cause oversupply in the chip industry and even force the appearance of the alternative chip products. "

In addition, industry insiders analyzed that the subsidy of the "Chip Law" can be described as "not painful and itch". According to chip giants Intel, it is usually a new wafer fab, which costs about $ 10 billion in costs. The $ 52 billion chip subsidy is actually not painful or itchy for the entire chip industry, just equivalent to 5 production lines. What's more, there are more monks and less porridge. So many companies come together, and they do n’t have much to get in the end. There are not too many stimulus effects.

Bloomberg pointed out that without more reforms and careful supervision, Congress's gifts on the semiconductor industry may make things worse. At present, this huge new splurge (subsidy) is unlikely to be cost -effective. Because the United States has no labor to maintain this new capacity. Another disadvantage is, "By protecting the company's use of the useful impact of market competition, they will lead to complacent emotions, suppress productivity and innovative driving force. subsidy."

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