China Readies $27 Billion Chip Fund to Counter Growing US Curbs
- Local government, SDIC may join China’s biggest-ever chip fund
- Washington urges allies to tighten China export controls
China is in the process of raising more than $27 billion for its largest chip fund to date, accelerating the development of cutting-edge technologies to counter a US campaign to thwart its rise.
The National Integrated Circuit Industry Investment Fund is amassing a pool of capital from local governments and state enterprises for its third vehicle that should exceed the 200 billion yuan of its second fund, according to people familiar with the matter.