ANNOUNCEMENT 13 Sep 2016
13th September 2016 - China's Shaanxi province establishes an investment fund for the integrated circuit (IC) industry of $900m (6bn CNY), to be grown to $4.5bn (30bn CNY) in the 'future'.
NUMBER OF INTERVENTIONS
Shaanxi Provincial Government, 13th September 2016. (我省第一支集成电路产业投资基金成立)
China Semiconductor Industry Association, 14th September 2016. (陕西省设立首支集成电路产业投资基金目标规模300亿)
Shaanxi Provincial Government Supervision Office, 26th January 2016. (中国人民政治协商会议陕西省十一届委员会第四次会议提案第688号)
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.