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China : CHINA to invest 500 billion yuan in IC industry [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) China would invest 500 billion yuan ($81.3 billion) into its integrated circuit (IC) sector in the next several years. The massive funds will be sourced from governments and social investors, 120 billion yuan ($19.5 billion) of which will come from the central government as the Phase I capital of the State industry investment fund. Executive vice chairman of the China Semiconductor Industry Association, Xu Xiaotian, said the fund, which would be established in October, will aim to develop the chip manufacturing sector and allied industries. According to insiders, the country's move seeks to promote the IC industry ranging from chip design to chip manufacturing, packaging, testing, equipment and materials. Xu said : "Our purpose is to build a complete industry chain involving chips, software, complete machines, systems and information service." (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). [ Back To TMCnet.com's Homepage ] |