For SMIC & Co.
China pumps billions into the chip industry
China has set up another state fund to promote its own chip industry. This has a volume of the equivalent of 43.7 billion euros, according to a mandatory announcement published on Monday.
According to the data provider Tianyancha, the Chinese Ministry of Finance is the largest investor in the new fund with a share of 17 percent. Further money comes from large banks.
As the USA restricts the export of high technology to the People's Republic, the government in Beijing wants to promote research and development in its own country. To this end, foreign experts have been specifically recruited for years.
In recent years, Beijing has already pumped billions into semiconductor manufacturers such as SMIC and Hua Hong via two other funds.
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