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.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exclusive-China to launch new $40 billion state fund to boost chip industry, sources say By ReutersExclusive-China to launch new $40 billion state fund to boost chip industry, sources say
Source: Investingcom - 🏆 450. / 53 Read more »

Denver airport’s $40 million “equity center” is novel, but will it help close hiring gaps in the aviation industry?Denver International Airport plans to spend roughly $40 million to build its Center of Equity and Excellence in Aviation as it aims to help the aviation industry find future workers — and red…
Source: denverpost - 🏆 13. / 72 Read more »