In fact, as early as 2014, the mainland had officially raised 139 billion yuan to establish the "China Integrated Circuit Investment Fund" (commonly known as the "large fund"). The main purpose was to develop the semiconductor industry.
The above-mentioned new fund of 300 billion yuan will also be funded by the "big fund", including mainland China's central and local governments, and the high-tech industry will all be funders. However, the source said that the current fund-related fund-raising. Limits, operational details, etc. have not yet been finalized, and there are likely to be amendments in the future.
However, the Wall Street Journal also quoted sources as saying that the mainland’s efforts to develop the semiconductor industry have been under pressure from the United States in the past. Once the new fund is established, the United States has accused the mainland of using “reasonable government intervention” and “national security”. More justly, William Reinsch, a former U.S. trade official, pointed out that the establishment of a new fund by China may encourage the United States to complain about unfair practices.
Analysts said that after the mainland established a “big fund” in 2014, the United States exerted pressure on the mainland’s science and technology policy. The establishment of a new fund is equivalent to the mainland’s declaration to the United States “that it will redouble its efforts to develop the local semiconductor industry”. It will become the new explosion point of Sino-US trade friction in the future.