ANNOUNCED AS TEMPORARYNo
On the 12th of September 2016, China's Shaanxi Province announced it had established a fund of $900m to boost the integrated circuit industry in the region. This was only the beginning according to the Provincial Government - with the fund's eventual value set at $4.5bn. According to the minutes from a preliminary meeting in January 2016, the fund will be used to establish a 'multi-level capital market' and boost the operations of domestic 'strategic emerging industries', that are deemed to be spurring on growth in the IC industry in the region.
This act comes as part of the PRC Ministry of Industry and Information Technology's 2014 policy to boost the IC industry nationwide throughout the PRC.
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