China is taking major steps to improve its semiconductor industry, preparing a $143 billion package to boost its self sufficiency.

China has been reeling from US efforts to sanction its semiconductor industry and restrict its access to advanced technologies. Some reports have indicated China’s chip industry is on the verge of collapse as a result of the efforts, and China is clearly taking extreme efforts to address the situation.

According to Reuters, China is prepping a 1 trillion yuan ($143 billion) package aimed at helping the country attain greater independence from US chipmakers, as well as the chipmakers of US allies.

The package could be rolled out as early as the first quarter of next year, with Reuters’ sources saying companies could be eligible for up to 20% subsidies on new equipment and fabs.

If China’s efforts are successful, it could help position the company as a major competitor in the semiconductor industry and greatly reduce the influence Washington and its allies have on the country’s tech industry.