China's IC design industry maintains fast growth: expert

China's integrated circuit design industry has maintained fast growth this year as the country took decisive action to contain the epidemic, according to an industry expert.

The total sales volume of China's IC design industry is expected to grow 23.8 percent year-on-year to reach 381.94 billion yuan (about $58.4 billion) by the end of 2020, said Wei Shaojun, general director of the China Semiconductor Industry Association IC Design Branch.

The sales will account for nearly 13 percent of the total sales revenue in the global IC design market, Wei said.

The number of IC design enterprises in China has increased to 2,218, among which 289 are set to see their sales revenues surpass 100 million yuan this year.

The output value of China's semiconductor industry has already topped 590.58 billion yuan in 2020, according to Wei.