China to launch $40bn state fund to boost chip industry
Author:
Anastasiia Kerpan
China is planning to launch a new $40 billion investment fund to boost the chip industry.
Reuters reported this.
This is likely to be the largest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.
Its target of ¥300 billion (roughly $41 billion) surpasses similar funds launched in 2014 and 2019. According to government reports, they raised ¥138.7 billion yuan and ¥200 billion respectively.
It will be recalled that in October, the United States imposed a broad package of sanctions that restricted China's access to modern chip manufacturing equipment. Japan and the Netherlands did the same.
