Tech war: Beijing sets up US$1.2 billion semiconductor fund as China splurges on chips

Quick Summary:

Beijing set up the new chip fund under the state-owned Zhongguancun Development Group, joining a slew of chip investment funds across China.

Government subsidies for semiconductor firms in China have surged as Beijing doubles down on its self-sufficiency drive.

Public funding to 25 of the country’s top chip companies jumped 35 per cent to 20.53 billion yuan last year over 2022, according to an analysis by the Post.

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Article Details

Author / Journalist: Xinmei Shen

Category: Business

Markets: Hong KongChinaTaiwan

Topics: China Semiconductor Beijing Chip Billion Yuan Fund Industry Investment According Government

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 19:00:21 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 407 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22307518

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