China Seeks $40 Billion to Drive Chipmaking, Reuters Says
- The so-called Big Fund is raising capital now, Reuters reports
- China has in the past plowed billions into domestic chipmakers
Photographer: Qilai Shen/Bloomberg
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China is seeking to raise a $40 billion fund to bankroll investments in domestic chipmaking and research, Reuters reported, citing unidentified people familiar with the matter.
The state-backed China Integrated Circuit Industry Investment Fund is establishing its third and largest investment pool of about 300 billion yuan ($41.1 billion), Reuters reported. The country’s finance ministry may contribute 60 billion yuan to the fund, which won approval to operate in recent months, Reuters cited the people as saying. The process may take time and it’s unclear who the potential investors were or when it might launch, it added.