China's finance ministry and six major banks invested CNY 344 billion in the new fund, focusing on chip manufacturing equipment to boost the semiconductor industry.
The third phase of the China Integrated Circuit Investment Fund, nicknamed the 'Big Fund,' was officially launched on May 24, with the finance ministry as a key investor holding a 17% stake.
The fund has supported major chip foundries like SMIC and Hua Hong Semiconductor, showcasing China's intent to attain self-sufficiency amidst U.S. export control threats in the semiconductor sector.
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