China has created a $29B state-backed fund to invest in the semiconductor industry, from design to manufacturing, to reduce its dependency on US technology (Bloomberg)

Bloomberg:
China has created a $29B state-backed fund to invest in the semiconductor industry, from design to manufacturing, to reduce its dependency on US technology  —  - Second of its kind, the fund is mainly backed by state capital  — China wants to become self-reliant in chip-making and design

from Techmeme https://ift.tt/2WtREni