Exclusive: China to launch new $40 bln state fund to boost chip industry, sources say

It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.

One main area of investment will be equipment for chip manufacturing, said one of the two people and a third person familiar with the matter. In October, the U.S. rolled out a sweeping sanctions package that cut China's access to advanced chipmaking equipment and U.S. allies Japan and the Netherlands have taken similar steps.China's finance ministry is planning to contribute 60 billion yuan, said one person. Other contributors could not be immediately learned.

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