The move has been described as a clear signal to the domestic chip manufacturing industry that Beijing is still willing to invest in it.
The largely state-funded financing round was completed just as China prepares to launch a new state-backed investment fund that aims to raise about USD 40 billion for its semiconductor sector. GTA Semiconductor has been backed by state-owned venture capital firms like Shanghai-based Spinnotec. With this injection of capital, GTA Semiconductor has now raised over USD 2.7 billion of mostly state funds in less than two years, according to the Securities Times.
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.