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March 16, 2016

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More cash promised to China’s IC fund

CHINA is willing to inject more money in the 139 billion yuan (US$21.3 billion) national integrated circuit fund to support the domestic semiconductor industry development, industry officials said yesterday.

The semiconductor industry is a key player in China’s economic restructuring as it moves toward a more innovation-driven growth model.

The national fund has already pumped more than 42 billion yuan into companies dealing in integrated circuit material and equipment (AMEC and SH Silicon), design (Unigroup), manufacturing (SMIC and Silan) and assembly testing (Huatian) sectors, said Ding Wenwu, president of the China Circuit Industry Investment Fund Co, which operates the fund.

The integrated circuit industry provides chips for smartphones, TVs, automotive and other electronic devices.

“We will raise money for the fund if it is necessary,” Ding told a forum at the Semicon China 2016 in Shanghai.

The national IC fund, which was set up with 120 billion yuan in 2014, has been raised to 138.7 billion yuan.

More than 60 percent of the fund is expected to be invested in the IC manufacturing sector.

Revenue from China’s IC industry touched 361 billion yuan in 2015, surpassing the target of 350 billion yuan, due to rising demand and increased investment, Ding said.

But China’s IC capacity to serve the advanced manufacturing technology is only about 10 percent of the global level, said Zhou Zixue, chairman of the China Semiconductor Industry Association.

In the next decade, China’s IC capacity is expected to touch 22 percent in 2025 globally.


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