China's $40 Billion State Fund to Supercharge Chip Industry, Sources Reveal

China is planning to launch a new state-backed investment fund, expected to raise around $40 billion, to boost its semiconductor sector and catch up with the US and other rivals. The fund, the largest of three launched by the China Integrated Circuit Industry Investment Fund, will focus on investing in chip manufacturing equipment. The move comes as China aims to achieve self-sufficiency in semiconductors, following export control measures imposed by the US and its allies. The fundraising process is expected to take months, and the launch date for the fund is yet to be determined.