China to Invest RMB 120 Bln in IC Industry Development Fund
Tencent Finance, 4/25/14
China will invest RMB 120 bln to support the development of the country's semiconductor industry, with a specially designated fund to be established in the near term future, according to China Securities Journal.
As described by an industry veteran, a lack of funding is the primary bottleneck restricting development of the integrated circuit (IC) industry in China. In order to overcome this limitation, a number of government bodies have pledged to provide support for the industry in the form of cash subsidies and equity investments. Of the RMB 120 bln to be invested, a reported RMB 40 bln will be allocated from state funds, with the remaining RMB 80 bln to be obtained through public fundraising.
Editor's Note: For more background on this topic, please see "MIIT Establishes RMB 30 Bln Semiconductor Fund" MD 12/18/13 issue.
Keywords: government subsidy government policy government support hardware semiconductor MIIT IC
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