Reported 5 months ago
China has established its third state-backed investment fund with a capital of $47.5 billion to boost the semiconductor industry, aiming to achieve self-sufficiency in semiconductor production and counter U.S. export controls. The fund, part of President Xi Jinping's drive for technological independence, was officially set up on May 24 with the largest phase of the China Integrated Circuit Industry Investment Fund. The fund has attracted investments from various entities, including major Chinese banks, and will focus on equipment for chip manufacturing and potentially hire institutions to manage investments.
Source: YAHOO