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The third installment of the “Big Fund” seeks significant contributions from local and state-owned enterprises, underscoring China’s strategic shift towards semiconductor independence.
The expansion of the fund, directed by China’s Ministry of Technology, marks a concerted effort to tap the potential of the country’s vast semiconductor market, despite having relied on U.S. technology for significant advances to date. It is something.
Big Fund, which plays a pivotal role in China’s pursuit of chip autonomy, plans to finance various projects through a “fund of funds” structure with the aim of diversifying investments and strengthening local companies. .
Key stakeholders, including city governments and state-owned enterprises, are poised to inject billions of dollars, reflecting President Xi Jinping’s national mobilization strategy. However, negotiations are ongoing and financing details are subject to change. The strategic move comes as the United States urges allies to tighten export controls and limit China’s access to critical semiconductor technology.
Since its establishment in 2014, the Big Fund has contributed to supporting China’s semiconductor sector, raising approximately $45 billion and supporting numerous companies. Despite operating largely out of the public eye and facing accountability challenges, the fund has enabled important advances such as his development of SMIC’s 7-nanometer processor.
With the launch of this third fund, China is stepping up its efforts to break through technological barriers, driven by international pressure and the urgent need for innovation within the semiconductor industry.
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