China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of 344 billion yuan (US$47.5 billion), a filing with a government-run companies’ registry showed.
Chinese chip shares rose, with the CES CN Semiconductor Index rallying more than 3 percent and set to log the biggest one-day gain in more than a month.
The third phase of the fund, also known as the “Big Fund,” was officially established on Friday and registered under the Beijing Municipal Administration for Market Regulation, National Enterprise Credit Information Publicity System, a government-run credit information agency, data showed.
Photo: AFP
It was also the largest of the three funds launched by the China Integrated Circuit Industry Investment Fund.
Its biggest shareholder is the Chinese Ministry of Finance, with a 17 percent stake and paid-in capital of 60 billion yuan, followed by China Development Bank Capital, with a 10.5 percent stake, said Tianyancha (天眼查), a Chinese companies’ information database company.
Seventeen other entities are listed as investors, including five major Chinese banks: Industrial and Commercial Bank of China (中國工商銀行), China Construction Bank (中國建設銀行), Agricultural Bank of China (中國農業銀行), Bank of China (中國銀行) and Bank of Communications (交通銀行), with each contributing about 6 percent of the total capital.
The first phase of the fund was established in 2014, with registered capital of 138.7 billion yuan, and the second phase was in 2019, with 204 billion yuan.
The Big Fund has provided financing to China’s two biggest chip foundries, Semiconductor Manufacturing International Corp (中芯國際) and Hua Hong Semiconductor Ltd (華虹半導體), as well as to Yangtze Memory Technologies Co (長江儲存), a maker of flash memory, and a number of smaller companies and funds.
One of the major areas the third phase of the fund would focus on is equipment for chip manufacturing, Reuters reported in September last year.
The Big Fund is also considering hiring at least two institutions to invest the capital from the third phase.
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
Demand for artificial intelligence (AI) chips should spur growth for the semiconductor industry over the next few years, the CEO of a major supplier to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) said, dismissing concerns that investors had misjudged the pace and extent of spending on AI. While the global chip market has grown about 8 percent annually over the past 20 years, AI semiconductors should grow at a much higher rate going forward, Scientech Corp (辛耘) chief executive officer Hsu Ming-chi (許明琪) told Bloomberg Television. “This booming of the AI industry has just begun,” Hsu said. “For the most prominent
PARTNERSHIPS: TSMC said it has been working with multiple memorychip makers for more than two years to provide a full spectrum of solutions to address AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has been collaborating with multiple memorychip makers in high-bandwidth memory (HBM) used in artificial intelligence (AI) applications for more than two years, refuting South Korean media report's about an unprecedented partnership with Samsung Electronics Co. As Samsung is competing with TSMC for a bigger foundry business, any cooperation between the two technology heavyweights would catch the eyes of investors and experts in the semiconductor industry. “We have been working with memory partners, including Micron, Samsung Memory and SK Hynix, on HBM solutions for more than two years, aiming to advance 3D integrated circuit
NATURAL PARTNERS: Taiwan and Japan have complementary dominant supply chain positions, are geographically and culturally close, and have similar work ethics Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other related companies would add ￥11.2 trillion (US$78.31 billion) to Japan’s chipmaking hot spot Kumamoto Prefecture over the next decade, a local bank’s analysis said. Kyushu Financial Group, a lender based in Kumamoto’s capital, almost doubled its projection for the economic impact that the chip sector would bring to the region compared to its estimate a year earlier, a presentation on Thursday said. The bank said that 171 firms had made new investments since November 2021, up from 90 in an earlier analysis. TSMC’s Kumamoto location was once a sleepy farming area, but has undergone
RSS