China To Invest $40 bn Fund For Chip Industry

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  • The process of fundraising may take almost two months

China has recently announced a plan to invest about $40 billion for its semiconductor sector.  According to a news portal, this is the third biggest funds of China. The amount of funds exceeds the figures of the previous two funds with a similar purpose.

China’s target of 300 billion yuan ($41 billion) outdoes similar funds in 2014 and 2019, which according to government reports, raised 138.7 billion yuan and 200 billion yuan, respectively.

China’s President Xi Jinping emphasised the need of self-sufficiency in semiconductors. This need became pressure when Washington imposed a series of export control measures over the last couple of years, citing fears that Beijing could use advanced chips to boost its military capabilities.

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Sources also revealed that the process of fundraising may take almost two months and third fund clearance is also not confirmed.

SINO-IC Capital has been under investigation and suspected of misappropriation of funds and corruption. This company was managing previous two funds. China had earned a lot of investment before, despite that it couldn’t perform well in the last few years.

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Nitisha Dubey
Nitisha Dubey
Nitisha Dubey is a journalist at EFY. She focuses on startups and innovations with a deep interest in new technologies and business models.

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