China's First Self-Developed Memory Chip Maker Scores Financing – China Money Network

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China’s first self-developed memory chip project received financial support, but it remains uncertain if the project can achieve its technology and financial objectives.
On December 14, China’s National Semiconductor Fund, Anhui State-owned Assets, GigaDevice, an entity controlled by ChangXin Memory Technologies’ chairman Zhu Yiming, Xiaomi Yangtze River Industry Fund and other institutions invested in Changxin’s parent company Ruili Integrated Circuit Co., Ltd.
This latest round of financing introduced a number of investors outside of Hefei’s State-Owned Assets, and the financing reached RMB15.65 billion yuan.
Ruili Integrated Circuit Co., Ltd. was established in 2016 as China’s national strategy of accelerating the development of its own integrated circuit industry was heating up.

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