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China Establishes National Fund For Integrated Circuit

CHINA PRESS
MNI (Singapore)
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China set up a national integrated circuit industry investment fund (phase III) on Friday with registered capital totaling CNY344 billion. The six major state-owned banks including Industrial and Commercial Bank of China and Agricultural Bank of China on Monday also pledged to contribute CNY114 billion, with a shareholding ratio of 33.14%. The fund is jointly funded by the Ministry of Finance and 18 other shareholders. The registered capital of the third phase of the fund has increased significantly, exceeding the combined amount of the first and second phases. (Source: China Securities Journal)

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China set up a national integrated circuit industry investment fund (phase III) on Friday with registered capital totaling CNY344 billion. The six major state-owned banks including Industrial and Commercial Bank of China and Agricultural Bank of China on Monday also pledged to contribute CNY114 billion, with a shareholding ratio of 33.14%. The fund is jointly funded by the Ministry of Finance and 18 other shareholders. The registered capital of the third phase of the fund has increased significantly, exceeding the combined amount of the first and second phases. (Source: China Securities Journal)