From ComputerWorld: China has established a massive new state-backed semiconductor fund worth 344 billion yuan or $47 billion aiming to ramp up its chip industry, according to the National Enterprise Credit Information Publicity System, a government-run credit information agency.
This aggressive move is seen as a countermeasure against US efforts to limit China’s access to advanced chip technology.
Christened the China Integrated Circuit Investment Fund Phase III, the investment in this phase is the largest yet and was registered on May 24. This phase dwarfed its previous two phases registered in 2014 and 2019 with investments of 138.7 billion yuan and 204 billion yuan respectively.
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