China creates 344 billion yuan chip fund to fuel self-resilience businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
BEIJING: China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of 344 billion yuan (US$47.5 billion), according to a filing with a government-run companies registry. The hundreds of billions of yuan invested in the sector puts into pe
The announcement of the semiconductor fund has already had a positive impact on China s chip stocks, with major players like SMIC and Hua Hong Semiconductor experiencing significant gains in the market
China Semiconductor Investment: That commitment has taken on renewed urgency after the U.S. imposed a series of export control measures over the last couple of years, citing fears Beijing could use advanced chips to boost its military capabilities.
By Sherry Qin China has set up a nearly $48 billion fund to help its semiconductor industry build up a local supply chain and close the technology gap with the U.S., coming as the country.