Reuters, HONG KONG/BEIJING, Sept. 5 – According to two people with knowledge of the situation, China is getting ready to launch a new state-backed investment fund with the goal of raising approximately $40 billion for its semiconductor industry as the nation steps up attempts to catch up with the United States and other rivals.
The China Integrated Circuit Industry Investment Fund, often known as the Big Fund, opened three funds; this one is believed to be the largest.
In comparison, similar funds in 2014 and 2019 raised 138.7 billion yuan and 200 billion yuan, respectively, according to government reports. Its objective of 300 billion yuan ($41 billion) exceeds those years’ totals.