The third phase will be the largest of the three funds launched by the China Integrated Circuit Industry Investment Fund, known as the “Big Fund”.
China’s finance ministry is the biggest shareholder with a 17 per cent stake and paid-in capital of 60 billion yuan, according to Tianyancha, a Chinese companies information database company. China Development Bank Capital is the second-largest shareholder with a 10.5 per cent stake.
The Ministry of Finance didn’t immediately reply to Reuters request for comment
Seventeen other entities are listed as investors, including five major Chinese banks: Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications, with each contributing around 6 per cent of the total capital.
Reuters reported in September that China would launch the third phase of the Big Fund.
The first phase of the fund was established in 2014 with a registered capital of 138.7 billion yuan, and the second phase followed in 2019 with 204 billion yuan.
The Big Fund has provided financing to China’s two biggest chip foundries, Semiconductor Manufacturing International Corporation, and Hua Hong Semiconductor, as well as to Yangtze Memory Technologies, a maker of flash memory and a number of smaller companies and funds.
One of the major areas the third phase of the fund will focus on is equipment for chip manufacturing, Reuters reported in September. Also, the Big Fund is considering hiring at least two institutions to invest the capital from the third phase.
From: channelnewsasia
Business News
