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Shenzhen steps up semiconductor investments with city-backed fund worth US$692 million
Shenzhen’s latest move underscores its strategy to leverage state-backed capital to support the semiconductor sector.
Officially registered in the city’s Longgang district on April 29, the initial contributed capital totalled 3.6 billion yuan, according to corporate data from Tianyancha. Shenzhen’s latest move underscores its strategy to leverage state-backed capital and use targeted industrial policies to support the semiconductor sector. Shenzhen-based SiCarrier, a chip equipment maker with ties to Huawei Technologies that attracted widespread attention at a major trade event in March, is one example of a company backed by Shenzhen money.
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