China to launch $41 billion investment fund for semiconductor sector

BEIJING, China: To keep pace with the U.S. and other rivals, China will establish a new state-backed investment fund for the semiconductor sector to raise some US$41 billion.

The new fund will be launched by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund.

It is likely to be the biggest of three funds managed by the Big Fund, as its target of 300 billion yuan ($41 billion