Chinese authorities have created an investment fund to support the development of the semiconductor industry, online technology publication The Register reported May 28.
The capital of the fund amounted to 344 billion yuan (4.18 trillion rubles or 47 billion dollars). The fund’s major shareholders include the China Development Bank, the Ministry of Finance and other government agencies.
The fund is said to be another version of the National Integrated Circuit Industry Investment Fund. It will manage risk capital and provide assistance in the management of the companies in which investments are made.
Previously, the results of government investment in the industry have been mixed. Although some companies that had the support of the State reached high volumes and production levels, many did not even reach the production stage.
The fund appears to be designed to strengthen the capabilities and position of the Chinese semiconductor industry in the context of US sanctions and significant investments in electronics in other regions of the world.
Source: Rossa Primavera
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