Chinese government to set up giant semiconductor fund
Posted on 11 May, 2018 by Chris Torney, reporter
The vehicle is part of the country’s plan to end its reliance on American chip suppliers.
China is about to finalise a $47bn investment fund focusing on semiconductor research and chip development, the Wall Street Journal has reported this week.
According to other sources, the fund – which will be primarily backed by Chinese government agencies – has been in the pipeline for several months, but officials are thought to have agreed to increase its size in the wake of the ongoing trade dispute with the Trump administration.
China currently imports around 90% of the chips used by its manufacturers, TechCrunch reported.
See more from this Government Report: People's Republic of China
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