China's Chip Industry Fund and Semiconductor Development

Guangdong province establishes a $1.5 billion chip industry fund, aligned with China's semiconductor self-reliance efforts amid US export restrictions. The fund is primarily financed by Guangdong Yuecai Holdings and two city-level industry investment funds, part of China's 'whole-nation' approach to domestic semiconductor development. The US export control rules may impact China's semiconductor and AI development, while Huawei Technologies launches a new 5G-capable smartphone with a home-grown chip. China's state-owned enterprises are also providing financial support to chip projects.