Today.Az - China sets up third fund with $47.5 bln to boost semiconductor sector today.az - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.az Daily Mail and Mail on Sunday newspapers.
Outspending US capitalism China has established its third state-backed investment fund to bolster its semiconductor industry, with a registered capita.
China is intensifying its efforts to lead in advanced technologies by establishing its largest-ever state investment fund for semiconductors, as detailed by a government-run agency. Valued at $47.5 billion, this fund comes amid stringent U.S. restrictions on the export of American chips and related technologies, aimed at curbing Beijing's technological ambitions. Six major state-owned banks,