China's National Integrated Circuit Industry Investment Fund (Big Fund) on October 22 set up a new fund of CNY204.15 billion (US$28.9 billion), marking the start of its second-phase support for domestic chipmakers, according to China company registration information.

The Big Fund already spent an estimated CNY138.7 billion on its first-phase capital support for the local chip industry. The Big Fund was set up in 2014 aiming to nurture China's local IC industry and raise the country's self-sufficiency rate for ICs.

The state-backed semiconductor fund in its second phase is expected to encourage further China's local chipmakers to develop and build more homegrown chips and components for mainly AI, 5G and other emerging device applications, industry observers believe.

China's Ministry of Finance, and state-owned China Telecom and Jointcom Communication Technology are reportedly among the major investors of the second-phase Big Fund.

By: DocMemory
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