China seeks to raise 200b yuan to fuel homegrown chip dream

Hong Kong

CHINA'S government aims to raise as much as 200 billion yuan (S$41.8 billion) to invest in homegrown chip companies and accelerate its ambition of building a world-class semiconductor industry, people familiar with the matter said.

The state-backed China Integrated Circuit Industry Investment Fund Co is in talks with government agencies and corporations to raise at least 150 billion yuan for its second fund vehicle, but is angling for up to 200 billion yuan, the sources said, speaking on condition on anonymity about a plan yet to be publicised.