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China’s central government could become a small investor in a third chip manufacturing financing scheme. bloomberg It reported that the majority of the capital is expected to be raised by local governments, their investment arms and state-owned enterprises.
Citing local sources, the news agency said support for the latest round of funding from the China Integrated Circuit Industry Investment Fund is expected to exceed the 200 billion yuan ($27.8 billion) second fund. Major investors include the governments of Shanghai and other cities, China Chengtong Holding Group, and the National Development Investment Corporation.
China has not released any official announcement regarding this fund.
In response to tougher U.S.-led sanctions restricting China’s access to advanced chips and semiconductor manufacturing equipment, the country is ramping up domestic production capacity in a bid to reduce its dependence on imports.
In a recent move, the United States is considering adding several Chinese high-tech companies, including memory chip maker Changxin Memory Technologies, to the Commerce Department’s Entity List, which restricts access to American technology. bloomberg I have written.
Over the past year, after Covid-19 restrictions were eased in December 2022, China’s central government has been slow to introduce monetary policy to restart growth, and consumer spending and Unable to stimulate business investment, the GDP growth rate in 2023 is expected to slow to negative territory. Lowest level in 30 years.
In September 2023, Reuters The government reported that it is preparing to launch a 300 billion yuan fund to promote domestic chip production.
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