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Fund to expand for the IC industry upgrading
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CHINA’S 139 billion yuan (US$21.4 billion) national integrated circuit fund will expand in case it is used up or is necessary to support domestic semiconductor industry development, industry officials said in a forum held today in Shanghai.
The semiconductor industry is strategic in accelerating China’s economic restructuring against the background of the country’s move towards a more innovation-driven growth model.
Through the national fund, more than 42 billion yuan has been poured into firms of integrated circuit material and equipment, design, manufacturing and assembly testing sectors. The firms include SMIC, Unigroup, Huatia, AMEC, according to Ding Wenwu, president of the China Circuit Industry Investment Fund Co, the operating firm of the fund.
The integrated circuit (IC) industry provides chips used in smartphone, TV, automotive and other electronic devices, which is regarded as “brain” of the information technology industry and representing a country’s technology development level.
“We will raise money for the second-phase fund if it’s necessary,” Ding told the forum of Semicon China 2016 opened today in Shanghai.
The national fund, which started operation a year ago, was designed with a five-year investment period and 10-year duration. More than 60 percent of fund is expected to invest in IC manufacture sector.
The revenue of China’s IC industry was 361 billion yuan in 2015, surpassing the target of 350 billion yuan thanks to surging demand and increased investment, Ding said.
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