The city government of Shanghai, China recently introduced
a CNY50 billion (US$7.4 billion) IC industry investment fund aimed at
cultivating and supporting the local leading enterprises, according to a
recent Chinese-language Commercial Times report.
The
fund will provide CNY30 billion to support the development of the local
manufacturing sector, CNY10 billion to help local fabless firms expand
via acquisitions, and another CNY10 billion to foster the development of
the local equipment and materials sector, the report cited China media
as saying.
Named the Shanghai Integrated Circuit
Investment Fund (SICIF), it completed the first round of fund-raising
totaling CNY28.5 billion in 2016, according to previous reports.
Contribution from the national China Integrated Circuit Industry
Investment Fund accounted for 10% of SICIF's initial fund-raising. Other
major investors include Shanghai Science and Technology Venture
Investment (Group) and SAIC Motor.
http://www.digitimes.com/news/a20170725VL210.html
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