Chinese govt launches CNY 204 billion national semiconductor fund

Monday 28 October 2019 | 11:32 CET | News
The Chinese government has created a new national semiconductor fund of CNY 204.2 billion (approximately USD 28.9 billion), in an attempt to boost its domestic chip industry and close the technology gap with the US, The Wall Street Journal reports. This new fund is bigger by USD 9 billion than a similar fund launched in 2014 that raised CNY 139 billion, according to corporate registration information, which showed the fund was established on 22 October.

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Categories: Mobile & Wireless
Countries: China
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