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Friday, June 21, 2024

China Sets Up $47.5 Billion Fund to Boost Semiconductor Sector

China’s Investment Into Semiconductors

Beijing, China – The Chinese government has taken another major step in its efforts to reduce dependence on foreign technology and build up its domestic semiconductor industry. A new state-backed investment fund with a registered capital of 344 billion yuan ($47.5 billion) has been established to invest in the country’s chip sector.

Dubbed the third phase of China’s national integrated circuit industry investment fund, the new fund was officially launched on May 24th, according to data from Chinese information database company Tianyancha. The fund represents a significant increase in capital allocation compared to the previous phases.

The move is part of China’s ambitious “Made in China 2025” industrial policy to enhance self-sufficiency in key advanced technologies. Semiconductors, which serve as the basic building blocks of the digital economy, are a major focus.

The new fund aims to accelerate development across the chip industry value chain from chip design to advanced packaging and testing. It will provide much-needed capital to support R&D spending, expansion of production facilities, and strategic acquisitions of foreign chip companies. This could help close the gap with global rivals and fulfill China’s goal of supplying 70% of its semiconductor needs domestically by 2025.

Lazarus
Lazarushttps://ljlnews.com
Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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