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US media: China set up a semiconductor fund to invest 200 billion to cultivate local chip industry

The US media said that China has set up a new national semiconductor fund worth 204.15 billion yuan (about 28.9 billion US dollars). China is seeking to cultivate the local chip industry and narrow the technological gap with the United States. According to the US "Wall Street Journal" website reported on October 25, according to the company registration information, this government-backed fund was established on the 22nd, the scale is larger than a similar fund launched in 2014, the fund raised about 139 billion Yuan Renminbi.

The report said that this new fund is the latest sign that China is determined to reduce its dependence on US technology.

According to the report, in the field of semiconductors, China still faces a long road to global dominance.

The report also said that the 2014 fund invested billions of dollars in dozens of projects. One of them is Changjiang Storage Technology Co., Ltd. The company said in September that it has begun mass production of an advanced memory chip called 64-layer 3D NAND flash.

The report said that although the company is catching up quickly, it still lags behind South Korea's Samsung Electronics and other industry leaders who are already producing more advanced chips.

In general, analysts believe that China is still behind the leading players in Intel, Samsung and other key areas in semiconductor technology.

According to the report, in addition to chips, another major bottleneck in China's self-sufficiency efforts is chip manufacturing equipment, and China does not dominate the field. Leading companies include Applied Materials and Pan-Link in the United States, Asma Holdings in the Netherlands, and Tokyo Electronics in Japan.

The report pointed out that China Customs data shows that China imported $312.1 billion worth of semiconductor products in 2018, surpassing the $240.3 billion in crude oil imports.