• China to launch $41 billion fund to boost semiconductor industry.
• Funds will be used to develop chip manufacturing tools and resources.
• Huawei unveils new smartphone with a domestically developed chip.

Despite the United States’ ongoing attempts to limit China’s semiconductor production, the impact may be constrained.

China is preparing to launch a new fund to bolster its semiconductor industry, as reported by Reuters.

This state-sponsored initiative, the third by the China Integrated Circuit Industry Investment Fund, aims to raise an impressive 300 billion yuan ($41 billion) in capital.

In previous instances, the fund raised 138.7 billion yuan ($19 billion) in 2014 and 200 billion yuan ($27 billion) in 2019.

Around 60 billion yuan ($8 billion) is expected to come from China’s finance ministry, with the identities of other contributors remaining undisclosed.

Past supporters have included entities like China Telecom and China National Tobacco Corporation.

A significant portion of the fund will be allocated to developing tools and resources related to chip manufacturing.

Just a few days ago, Huawei, a prominent Chinese electronics company, unveiled its latest smartphone, the Mate 60 Pro, featuring domestically developed chips. In partnership with chip manufacturer Semiconductor Manufacturing International Corp (SMIC), Huawei introduced a new Kirin 9000s chip.

Notably, SMIC’s advanced 7nm technology appears to provide the Mate 60 Pro with download speeds surpassing those typically found in standard 5G smartphones.

This announcement of the Mate 60 Pro, along with the subsequent confirmation of its capabilities, stands in contrast to the collective efforts of the United States, Japan, and the Netherlands to restrict China’s chip access and curb its manufacturing prowess.

In August, President Biden signed an executive order further limiting investments in Chinese firms involved in technologies like semiconductors.

Previous restrictions have notably targeted Huawei, including a January ban on licenses for exporting US technology to the Chinese corporation.

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