China establishes state fund to strengthen chip industry

Daniel

China has established a new state-backed investment fund with registered capital of 344 billion yuan ($47.5 billion) to revitalize the country’s semiconductor-chip industry.

According to Chinese information database company Tianyancha, the third tier of the national integrated circuit industry investment fund was officially established on May 24.

According to Tianyancha, the Chinese Ministry of Finance is the largest shareholder with a 17% stake.

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