China will allocate $47 billion to develop its chip industry
By ForGeeks According to official documents, China has set up a new investment fund to boost its semiconductor industry. China’s Ministry of Finance and six major banks are key investors in the fund, which has earmarked 344 billion yuan (more than $47 billion) for chip-making equipment.
According to the official documents, China has set up a new investment fund to boost its semiconductor industry.
This is the third phase of the China Integrated Circuit Investment Fund, which was officially established on Friday, May 24. It is the largest fund since 2014, known locally as the «Big Fund». According to Tianyancha, the Ministry of Finance is a key investor with a 17% stake and a paid-up capital of 60 billion yuan.
According to Tianyancha.
The second largest shareholder is China Development Bank Capital with a 10.5% stake. Five other banks, each contributing about 6% of the total capital, are Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications.
Another five banks, each contributing about 6% of the total capital, are Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications.
«The Big Fund» has already provided financing to SMIC and Hua Hong Semiconductor, two of China’s largest chip factories. The allocation of hundreds of billions of yuan is a sign of the Asian country’s ambition to achieve self-sufficiency in advanced chips.
Hundreds of billions of yuan have been allocated to SMIC and Hua Hong Semiconductor.
