Reported 5 months ago
China establishes its largest-ever semiconductor investment fund of 344 billion yuan ($47.5 billion) to boost the domestic chip industry, aiming for self-sufficiency amid US restrictions. Named Big Fund III, the fund, with support from state-owned banks and enterprises like Industrial & Commercial Bank of China Ltd., reflects China's resolve under Xi Jinping's government to advance its semiconductor sector. The move comes as tensions with the US rise, prompting China to invest in legacy chipmaking capabilities to counter US restrictions on advanced chip imports.
Source: YAHOO