Beijing’s investment comes in response to US efforts to restrict Chinese access to advanced technologies Beijing has launched a new state-backed investment fund focused on advancing the country’s semiconductor industry, according to a report by the Chinese corporate information service Qichacha. The move comes in response to US efforts to restrict China’s access to advanced chips. Dubbed the China Integrated Circuit Industry Investment Fund Phase III and worth 344 billion yuan ($47 billion), it is the third of its kind in a series of investments China has made over the past decade with the goal of bolstering the C
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