The article discusses China’s efforts to boost its domestic semiconductor industry by launching a $28.9 billion fund. The fund aims to reduce China’s reliance on foreign chip suppliers and strengthen its technological self-sufficiency. Key points include: China’s National Integrated Circuit Industry Investment Fund Co. will manage the fund, which will invest in chip design, manufacturing, packaging, and testing companies. The fund is part of China’s broader push to develop its semiconductor capabilities amid tensions with the United States over technology exports. China has faced challenges in developing advanced chip manufacturing due to U.S. export controls and restrictions on equipment sales. The fund will prioritize investments in cutting-edge technologies like 28-nanometer and smaller node chips. China’s semiconductor industry lags behind global leaders like Taiwan and South Korea, and the fund aims to bridge this gap and reduce reliance on foreign suppliers.