China's Big Chip Fund to Exceed $47.5 Billion Goal, Adviser Says [Yahoo! Finance Canada]
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Source: Yahoo! Finance Canada
Most Read from Bloomberg More state-backed firms are likely to join investors such as Industrial and Commercial Bank of China Ltd. in contributing capital, Li Ke, a member of the committee that advises the fund, told Bloomberg News. That reflects the government's resolve to create a self-sufficient domestic semiconductor industry, said Li, who is also deputy general manager of CCID Consulting Co., an agency backed by a research arm of the Ministry of Industry and Information Technology. ADVERTISEMENT Chinese government agencies have stepped up efforts since 2023 to overcome US sanctions and propel local players from Semiconductor Manufacturing International Corp. to Huawei Technologies Co. Key to that thrust is the National Integrated Circuit Industry Investment Fund — known colloquially as the Big Fund — which funnels state capital into important chip projects and companies. The Big Fund's third vehicle was set up just last month and will operate under a 10-year timeframe, l
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