(Bloomberg) -- China has set up the country’s largest-ever semiconductor investment fund to propel development of the domestic chip industry, the latest...
-- China has set up the country’s largest-ever semiconductor investment fund to propel development of the domestic chip industry, the latest effort from Beijing to achieve self-sufficiency as the US seeks to restrict its growth.India’s Markets Brace for Selloff as Modi’s Poll Goals in DoubtXi’s China EV Dream Came True. 10 Years On, Walls Are Going Up
The largest shareholder in the latest fund is China’s Ministry of Finance, and investment firms owned by local governments in Shenzhen and Beijing also contributed. The Shenzhen government has been supporting several chipmaking plants in South China’s Guangdong province in an attempt to free Huawei Technologies Co. from years of US sanctions that cut it off from a great number of imported semiconductor components.
China more than doubled the size of the Big Fund II in 2019 as the race against the US for tech supremacy intensified during the Trump administration. The capital was used to fund some of the country’s most promising chip projects from SMIC’s new factories to chipmaking machine manufacturer Advanced Micro-Fabrication Equipment Inc. China.
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