China creates $48 billion fund for local chip companies

Date:


China has arrange the nation’s largest-ever semiconductor funding fund to propel growth of the home chip business, the most recent effort from Beijing to attain self-sufficiency because the US seeks to limit its progress. The third section of National Integrated Circuit Industry Investment Fund has amassed 344 billion yuan ($47.5 billion) from central govt and numerous state-owned banks and enterprises, together with Industrial & Commercial Bank of China, in line with Tianyancha, a web-based platform that aggregates official firm registration data.The fund was integrated on May 24.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Israeli PM Benjamin Netanyahu dissolves his inner war cabinet amid Gaza conflict

Netanyahu is anticipated to seek the advice of...

Car prices set to go up? Stricter auto emission norms pose ‘affordability’ challenge for automakers

Automakers in India should scale back carbon emissions...

Google Pixel 8 Price In India Drops By Over Rs 10,000: Worth Buying Over Pixel 8a?

Last Updated: June 17, 2024, 11:00 ISTGoogle has...