China has launched a 300 billion yuan ($47 billion) fund to bolster its domestic semiconductor industry and reduce reliance on foreign technology. The fund aims to support the research, design, and manufacturing of advanced chips in China. It will invest in projects related to materials, equipment, packaging, and manufacturing of semiconductors. The move comes as the United States has imposed export controls on advanced chips and manufacturing equipment to China. China’s semiconductor industry lags behind global leaders like Taiwan and South Korea, and the country remains heavily dependent on foreign chips. The fund is part of China’s broader push for self-sufficiency in key technologies amid rising tensions with the US. However, analysts say catching up with global leaders in the highly complex semiconductor industry will be an immense challenge for China.
Source: https://www.cnn.com/2024/05/27/tech/china-semiconductor-investment-fund-intl-hnk/index.html