The city of Chongqing is planning to establish a RMB50 billion (US$7.3 billion) fund to strengthen the local semiconductor industry, according to state-run media outlet Xinhua News Agency. The fund will give up to RMB20 million (US$2.92 million) to integrated circuit project in which an investment of up to RMB500 million (US$7.30 million) has been committed. For smaller projects worth up to RMB20 million (US$2.92 million), it will provide up to RMB5 million (US$730,000). Chongqing would also provide a maximum …

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