The European Union has passed a chip bill of 43 billion euros to strive to produce 20% of the world's semiconductors by 2030.

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, July 25, local time, the European Council issued a statement saying that the European Council today approved the regulation to strengthen the European semiconductor ecosystem, the EU Chip Act, which was passed by the European Parliament earlier this month, which is the last step in the decision-making process.

The EU Chip Act aims to create conditions for the development of European semiconductor industrial bases, attract investment, promote research and innovation, and prepare Europe for future chip supply crises. The plan will mobilize 43 billion euros of public and private investment (3.3 billion euros from the EU budget) and aims to double the EU's share of the global semiconductor market from 10 per cent now to at least 20 per cent by 2030.

CTOnews.com noted that a number of companies, including Intel and St, have announced new plants in Europe.

The EU Chip Act paves the way for billions of euros to be spent on chip research in the region and, more importantly, allows countries to subsidize chip production for "first innovation".

The legislative bill has been passed after the European Council approved the position of the European Parliament today. After being signed by the President of the European Parliament and the President of the Council, the regulation will be published in the official bulletin of the European Union and will enter into force on the third day after publication.