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China is considering creating a new state investment fund aimed at raising approximately $40 billion to support the semiconductor sector. This was reported by Reuters, citing two insiders.
It is noted that China is actively trying to catch up with the United States and other competitors in the semiconductor industry.
This new fund could be the largest of three funds launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.
It is planned to have a target size of 300 billion yuan ($41 billion), which is larger than the two previous funds established in 2014 and 2019, which raised 138.7 billion yuan and 200 billion yuan, respectively, according to government reports.
One of the main investment areas will be chip manufacturing equipment, the sources said.
China's need for its own semiconductors has become urgent due to export control measures imposed by the United States, which have limited China's access to modern chip manufacturing equipment.
In addition, China is trying to provide itself with the necessary technology and production capacity in this area, as semiconductors play a key role in modern technology and military capabilities.
The fundraising process for the fund may take several months, and the exact date of the third fund's launch or further changes to the plan has not yet been determined.
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