China reportedly set to launch new state-backed fund to boost chip industry

<p>The fund will aim to raise around $40 billion to bolster the chip industry and will focus on areas including equipment for chip manufacturing. It is being reported that the fund was approved by Beijing in recent months and that the finance ministry itself plans to contribute roughly ¥60 billion to the fund.</p>

This article was written by Justin Low at www.forexlive.com.