50 Billion RMB Shanghai IC Industry Fund Will Be in Place in July

According to Mingbo Chen, the Director of Shanghai Municipal Economic and Information Technology Committee, Shanghai Municipal Integrated Circuit (IC) Industry Funds last sub-fund of 10 billion RMB will be fully in place by July 2017. As reported, Shanghai IC Industry Fund was established in January 2016 with a total target scale of 50 billion RMB, of which 30 billion RMB was set for manufacturing, 10 billion RMB was set for equipment materials, and the rest 10 billion RMB was set for acquiring IC design enterprises. The last sub-fund to be in place is the equipment materials fund.