China’s semiconductor industry is set to receive a major boost with the establishment of the country’s largest-ever investment fund. The National Integrated Circuit Industry Investment Fund, in its third phase, has gathered a whopping 344 billion yuan ($47.5 billion) in support from the central government, state-owned banks, and enterprises like Industrial & Commercial Bank of China. This initiative comes at a crucial time as Beijing aims for self-sufficiency in chip production amidst U.S. efforts to limit its technological advancements.
Launched on May 24, this fund aims to accelerate the development of China’s domestic chip industry. With substantial financial backing and a clear vision for growth, the country is positioning itself as a key player in the global semiconductor market. This strategic move underscores China’s determination to reduce its reliance on foreign technology and promote homegrown innovation.
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