China Creates $47.5 Billion Chip Fund to Fuel Self-Resilience [Yahoo! Finance]
INDUSTRIAL & COM UNSP/ADR (IDCBY)
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Source: Yahoo! Finance
latest effort from Beijing to achieve self-sufficiency as the US seeks to restrict its growth. Most Read from Bloomberg Severe Turbulence Leaves 12 Injured on Qatar Airways Flight Fed's Favorite Underlying Inflation Gauge Is Seen Cooling India's Markets Brace for Selloff as Modi's Poll Goals in Doubt Xi's China EV Dream Came True. 10 Years On, Walls Are Going Up China's Housing Rescue Has a Poor Track Record in Pilot Cities The third phase of National Integrated Circuit Industry Investment Fund has amassed 344 billion yuan ($47.5 billion) from the central government and various state-owned banks and enterprises, including Industrial & Commercial Bank of China Ltd., according to Tianyancha, an online platform that aggregates official company registration information. The fund was incorporated on May 24. The largest shareholder is China's Ministry of Finance, while investment firms owned by local governments in Shenzhen and Beijing also contributed. The Shenzhen governme
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