China launches $47.5 billion Big Fund III to boost semiconductor self-sufficiency

To increase self-sufficiency in the semiconductor sector, China has launched the third phase of Big Fund III

To increase self-sufficiency in the semiconductor sector, China has launched the third phase of its National Integrated Circuit Industry Investment Fund, commonly known as Big Fund III. Established last week, this new fund boasts a registered capital of 344 billion yuan , making it the largest state-backed investment in China’s semiconductor industry to date.

Leading beneficiaries of this substantial investment include Semiconductor Manufacturing International Corp and Hua Hong Semiconductor. Additionally, equipment suppliers such as Naura Technology Group and Advanced Micro-Fabrication Equipment, along with raw material providers like National Silicon Industry Group, are set to gain significant support.

The fund’s previous management faced corruption issues, with former president Ding Wenwu under investigation since July 2022. Zhang Xin, the current president, has taken over with a focus on transparency and effective investment.

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