Chinese semiconductor companies continue to rally after official vowed more efforts to support the sector

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Shares of Chinese semiconductor companies rallied in the A-share market on Friday, with Empyrean Technology surging as much as nearly 10% before closing the morning session 3.8% higher.

Zhang Yuzhuo, director of the State-owned Assets Supervision and Administration Commission (SASAC), conducted a research visit to Empyrean Technology, an EDA developer and solutions provider, on Thursday and spoke highly of the company’s strategic layout in chip design, manufacturing, packaging, and testing through EDA tools, and its strong technological R&D capabilities.

Zhang said that the SASAC will further implement precise policies, increase policy support in terms of talent, capital, and other aspects, and support central government-administered SOEs to tackle difficulties and make breakthroughs in the IC industry chain, promoting the high-quality development of the integrated circuit industry.