Future Tech

China sets up US$47.5b state fund to boost semiconductor industry

Tan KW
Publish date: Mon, 27 May 2024, 12:41 PM
Tan KW
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Future Tech

BEIJING: China has set up a new state-backed investment fund with registered capital of 344 billion yuan (US$47.5 billion) to boost the country's semiconductor industry.

The third phase of its national integrated circuit industry investment fund was officially set up on May 24, according to Chinese information database company, Tianyancha.

China's finance ministry is the biggest shareholder with a 17 per cent stake, according to Tianyancha.

 

 - Reuters 

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