China's State-Backed Fund Aims to Propel Tech Self-Sufficiency with $47.5 Billion Investment

  • 3 months ago
China has established a $47.5 billion state-backed fund as its third and largest phase of investing in the semiconductor industry. The "Big Fund" involves contributions from six major state banks to support China's goal of tech self-sufficiency under its Made in China 2025 plan. It aims to help domestic chipmakers like SMIC and Hua Hong Semiconductor reach advanced technology standards by 2030 in areas like AI and 5G. The US export restrictions on chips have spurred China to strengthen its domestic industry and reduce reliance on foreign suppliers amid geopolitical tensions.

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