China sets aside $47 billion to boost its chip industry

China established a new investment fund to boost its semiconductor industry, according to official documents. The Chinese finance ministry and six major banks are key investors in the fund, which set aside CNY 344 billion (over $47 billion) for chip manufacturing equipment, revealed Reuters.

This is the third phase of the China Integrated Circuit Investment Fund, which was officially established on Friday, May 24. It has been the biggest fund since 2014 and is known locally as the
“Big Fund.” According to Tianyancha, a Chinese company information database organization, the finance…

​ China established a new investment fund to boost its semiconductor industry, according to official documents. The Chinese finance ministry and six major banks are key investors in the fund, which set aside CNY 344 billion (over $47 billion) for chip manufacturing equipment, revealed Reuters.

This is the third phase of the China Integrated Circuit Investment Fund, which was officially established on Friday, May 24. It has been the biggest fund since 2014 and is known locally as the
“Big Fund.” According to Tianyancha, a Chinese company information database organization, the finance…   Read More GSMArena.com – Latest articles