Guangdong province in China has set up a new ¥11 billion ($1.5 billion) fund to boost its semiconductor industry, continuing China’s regional chip fund trend. Shanghai started its chip fund back in 2016, and now has ¥28.5 billion ($4.02 billion) in it. These local efforts across China show how serious the country is about building a self-reliant chip industry — and they are all in line with the goals set by the federal government, according to a report by the South Central Morning Post.
The new fund is called the Guangdong Semiconductor and Integrated Circuit Industry Equity Investment Fund Phase II. It follows the first phase, which launched in December 2020 and put ¥10 billion ($1.41 billion) into various chip projects in Guangdong. Both funds are designed to fund local semiconductor initiatives, although authorities of the region do not list projects that the funds have financed.
