China has set up the country’s largest-ever semiconductor investment fund to boost the development of its domestic chip industry, Beijing’s latest attempt to achieve self-sufficiency as the US tries to limit its growth.
The third phase of the National Integrated Circuit Industry Investment Fund has raised 344 billion yuan ($47.5 billion) from the central government and several state-owned banks and companies, including the Industrial & Commercial Bank of China, according to Tianyancha, an online platform that provides official company registration information.
The fund was established on May 24.
