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Rephrase the title:China’s Record $27 Billion Chip Fund to Counter US Tech Sanctions

Posted on March 9, 2024 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

China is gearing up its semiconductor industry with a massive $27 billion chip fund, the largest of its kind to date, as the United States and its allies continue to amp up restrictions. The move aims to accelerate cutting-edge technology development, countering the US campaign to stifle China’s move to expand chip technology.

CHINA-ECONOMY
This photo, taken on November 19, 2018, shows workers checking laptop parts in a factory in the Hangyong Auto Industrial Park in Lu’an City, in China’s Anhui Province. – The factory produces equipment for Toshiba, Matsushita, and other international brands. (Photo by STR / AFP) / China OUT

China Prepares a ‘Big Fund’ for Chip Technology

As first reported by Bloomberg, the fund, managed by the National Integrated Circuit Industry Investment Fund, dubbed the “Big Fund,” is gathering capital from local governments and state enterprises.

This initiative, expected to exceed its previous fund’s 200 billion yuan mark, highlights China’s determination to bolster its semiconductor capabilities despite external pressures.

Amid escalating US tech curbs targeting China’s chip and artificial intelligence sectors, the Big Fund’s expansion signifies a strategic maneuver by China’s tech ministry to assert its dominance in the global semiconductor market.

A significant portion of the funding for the third-phase vehicle of the Big Fund is anticipated to come from local governments and state-owned enterprises, aligning with President Xi Jinping’s vision of consolidating national resources for major technological endeavors.

Key investors in the fund include the governments of Shanghai and other cities, China Chengtong Holdings Group, and State Development and Investment Corp., each committing billions of yuan to fuel China’s semiconductor ambitions.

The Big Fund’s structure will encompass multiple pools of capital managed by various general partners. It aims to diversify investment strategies and ensure the viability of local chipmakers. Additionally, the fund will directly support local firms, providing them with the financial backing to compete globally.

Read Also: AI Secrets Stolen by Former Google Engineer, Allegedly Working in China

China’s Push for Self-Reliance

China’s renewed push for self-reliance in semiconductor technology comes amidst mounting pressure from the US and its allies, who seek to tighten restrictions on China’s access to advanced semiconductor technology.

Established in 2014, the Big Fund has played a pivotal role in supporting domestic chipmakers, including Semiconductor Manufacturing International Corp (SMIC) and Yangtze Memory Technologies Co. With approximately $45 billion in capital, the fund has facilitated technological advancements in China’s semiconductor industry, enhancing its global competitiveness.

Entities receiving capital from the Big Fund enjoy formal endorsement from Beijing, granting them access to additional investment opportunities and policy support, thereby accelerating their growth trajectory.

Although the fund faced setbacks due to an anti-graft probe in 2022, it has since regained momentum, signaling China’s unwavering commitment to achieving technological independence.

China’s push for self-sufficiency in semiconductor manufacturing underscores its determination to reduce reliance on foreign technologies, particularly amid intensifying geopolitical tensions.

Despite these efforts, recent reports indicate that leading Chinese tech companies such as Huawei Technologies and Semiconductor Manufacturing International Corp. still rely on US-origin technology for certain advanced chip productions, highlighting the challenges faced by China’s semiconductor industry.

Stay posted here at Tech Times.

Related Article: Huawei’s Controversial China-Made Chip Uses US Gear from Applied Materials, Lam Research: Reveals Insider Report

Tech Times Writer John Lopez
(Photo: Tech Times Writer John Lopez)

ⓒ 2024 TECHTIMES.com All rights reserved. Do not reproduce without permission.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Health Tags:China, Chip, Semiconductors, US-China

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