China launches $47 billion semiconductor fund to counter US sanctions
Shortpedia
Content Team
Image Credit: newsbytes
China has launched a massive $47 billion fund, the largest in its history, to bolster its semiconductor industry and establish a local supply chain. This fund, equivalent to 344 billion yuan, is the third phase initiated by the China Integrated Circuit Industry Investment Fund. It's worth noting that this amount is twice the total funds raised in the previous phases in 2014 and 2019.
