industry reports on semiconductor production capacity

China Launches $47.5-$48 Billion Super-Chip Fund to Boost Semiconductor Industry

May 27, 2024, 01:42 PM

China has launched a $47.5 billion chip fund, the largest ever, to boost its semiconductor industry and drive self-sufficiency amid ongoing tech tensions with the US. The fund, which is the third phase of the national Integrated Circuit Industry Investment Fund, aims to support the development of the semiconductor sector. This move comes as Chinese semiconductor companies rally in Hong Kong, reflecting investor confidence in the initiative. The substantial investment underscores China's determination to advance its tech capabilities despite US sanctions. Reports indicate the fund could be as high as $48 billion, highlighting its significance as a 'super-chip' fund.