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China Integrated Circuit Industry Investment Fund

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29: 2464: 1818: 1431: 1198: 2474: 297:. The investment approach was more conservative than the first phase, mainly focuses on the layout of the integrated circuit industry chain, focusing on chip manufacturing and equipment and materials, chip design, packaging and testing and other industry chain links, and supports the backbone of leading enterprises in the industry to grow bigger and stronger. 273:
management structure where the board set the strategy and approved major projects while Sino IC Capital carried out the investments and managed the money. The near-term goal was growing annual revenue of domestic semiconductor companies from 2015 to 2020 and to become a global leader in all segments
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crackdown. The scandal raised questions over the fund's efficiency and future value. the fund became dormant for a few months following the anti-graft investigations in July that lead to the downfall of its chief, Ding Wenwu. The fund resumed investment operations in early 2023 and on 10 March,
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On May 24, 2024, the National Integrated Circuit Industry Investment Fund III Co., Ltd. was established with a registered capital of 344 billion yuan (US$ 47.5 billion), larger than the first two phases. Phase III is expected to continue the semiconductor industry chain "neck" link investment,
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proposed in the National Integrated Circuit Industry Development Guidelines that a national investment fund should be set up to provide focused support for the development of the Integrated Circuit Industry. In August 2014, the fund management company, Sino IC Capital, was established by
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In September 2023, it was reported that ICF for its third phase was raising money for another fund with a fundraising target of around US$ 40 billion. In February 2024 it was reported the third fund would raise over US$ 27 billion. Investors included the
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According to MIIT, the fund raised US$ 21.8 billion in its first financing round in 2014. At the start, it deployed at least 60% of its capital into chipmaking investments, according to
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The fund has three phases respectively, with Big Fund I (2014 to 2019) and Big Fund II (2019 to 2024), and Big Fund III (2024 to 2039). The fund's management company is Sino IC Capital.
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industry and other key areas of artificial intelligence semiconductor is also expected to obtain the Big Fund III investment. On May 27,
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plan) by investing in domestic semiconductor companies. It has played a significant role with regards to the
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The fund has a very low profile and does not even have its own website. It is stated to lack transparency.
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In July 2022, ICF, Sino IC Capital, and several current and former executives were investigated by the
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including large-scale manufacturing and equipment, materials and other links, in addition to the
301: 261:(MIIT), it was set up to "invest in chip manufacturing, boost industrial production, and promote 108: 374:. Some of its investments are outside China. It also used to invest in investment firms such as 2400: 1938: 1841: 1654: 1627: 1604: 1594: 1524: 1451: 438: 355: 246: 217: 201: 130: 49: 1070: 393:
The largest shareholders of the fund include the Ministry of Finance, China Development Bank,
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On 26 September 2014, ICF was established. According to a statement on the website of the
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In 2019, ICF raised US$ 29.08 billion for its second phase. 75% of which went into
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strategy, which allows it to indirectly invest further into more companies such as
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proposed a total of 114 billion yuan of capital, with a shareholding of 33.14%.
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Zhu, Julie; Huang, Kevin; Mo, Yelin; Liu, Roxanne (5 September 2023).
2389: 2318: 632:"How China's 'Big Fund' is helping the country catch up in chip race" 1910: 1156: 794:"Graft scandal casts long shadow over China's chipmaking ambitions" 281:. The performance of the first phase exceeded market expectations. 974:"China Readies $ 27 Billion Chip Fund to Counter Growing US Curbs" 2429: 945: 907:"China's Big Fund corruption probe casts shadow over chip sector" 458: 87: 1039:"China is pumping another $ 47.5 billion into its chip industry" 508:"China's 'Big Fund' Gets New Boss To Fight US Chip Export Curbs" 709: 541:
High Wire: How China Regulates Big Tech and Governs Its Economy
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Mainland and Hong Kong Closer Economic Partnership Arrangement
265:". The fund operates as a corporate entity under MIIT and the 405:, which are government agencies and state-owned enterprises. 91: 2060:
State-owned Assets Supervision and Administration Commission
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National Fund for Technology Transfer and Commercialisation
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China Integrated Circuit Industry Investment Fund Co., Ltd.
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Mainland and Macau Closer Economic Partnership Arrangement
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China Council for the Promotion of International Trade
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CF deploys its capital by holding minority stakes in
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National Integrated Circuit Industry Investment Fund
905: 390:, which had to undergo bankruptcy reorganization. 1874:China Integrated Circuit Industry Investment Fund 146:China Integrated Circuit Industry Investment Fund 2514:Financial services companies established in 2014 2495: 2035:Ministry of Industry and Information Technology 1859:China Banknote Printing and Minting Corporation 259:Ministry of Industry and Information Technology 242:State Council of the People's Republic of China 403:China Electronics Technology Group Corporation 2000:All-China Federation of Industry and Commerce 1172: 938: 2040:National Financial Regulatory Administration 328:State Development and Investment Corporation 306:Central Commission for Discipline Inspection 2252:Regional Comprehensive Economic Partnership 1269:Grasping the large, letting go of the small 274:of the semiconductor supply chain by 2030. 2473: 2227:Guangdong–Hong Kong–Macau Greater Bay Area 2065:State Administration for Market Regulation 2050:National Development and Reform Commission 1179: 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Memory Technologies 360:Postal Savings Bank of China 7: 1749:Water supply and sanitation 1107:(in Chinese). 28 May 2024. 1014:(in Chinese). 27 May 2024. 10: 2540: 2509:Companies based in Beijing 2257:Rise of Central China Plan 2055:National Energy Commission 1071:"注册资本3440亿元 国家大基金三期成立_中证网" 972:Dong, Cao (8 March 2024). 344:Agricultural Bank of China 230: 2453: 2347: 2290:2005–2011 property bubble 2280: 2222:China Western Development 2197: 2151: 2083: 1990: 1929:Dalian Commodity Exchange 1803: 1767: 1685: 1618: 1580: 1298: 1208: 1194: 1079:(in Chinese). 28 May 2024 1037:He, Laura (27 May 2024). 372:publicly traded companies 183: 157: 121: 107: 97: 83: 65: 55: 45: 35: 26: 2164:Belt and Road Initiative 2143:Rural credit cooperative 1916:Foreign exchange reserve 1849:Beijing Financial Street 1258:Socialist market economy 1076:China Securities Journal 749:South China Morning Post 637:South China Morning Post 582:South China Morning Post 263:mergers and acquisitions 2406:Globalization and women 2272:Zhongyuan Economic Zone 2212:Beibu Gulf Economic Rim 1992:Government institutions 1968:Shenzhen Stock Exchange 1958:Shanghai Metal Exchange 1946:Shanghai Stock Exchange 1610:Zhangjiang Hi-Tech Park 1595:Megalopolises in China 545:Oxford University Press 317:Phase III (2024 - 2029) 302:Chinese Communist Party 293:projects, according to 2445:Science and technology 2339:2020–2021 reform spree 2093:International rankings 1939:Beijing Stock Exchange 1605:Suzhou Industrial Park 1600:Special Economic Zones 439:Hua Hong Semiconductor 356:Bank of Communications 285:Phase II (2019 - 2024) 247:China Development Bank 218:Hua Hong Semiconductor 202:semiconductor industry 131:China Development Bank 69:26 September 2014 50:State-owned enterprise 1795:Intellectual property 1290:1949–1976 wage reform 1233:Industrial Revolution 1099:"国家大基金三期,或将重点投资这些项目!" 916:. 28 September 2022. 444:Ingenic Semiconductor 384:Ingenic Semiconductor 253:Phase I (2014 - 2019) 170:), also known as the 113:US$ 45 billion ( 103:Zhang Xin (President) 71:; 9 years ago 60:Investment management 16:Chinese National Fund 2483:Economy of East Asia 2189:Youth Business China 2025:Ministry of Commerce 1973:SZSE Component Index 1590:Dalian Software Park 2030:Ministry of Finance 1951:SSE Composite Index 1921:Hedge fund industry 1768:Law and regulations 1475:academic publishing 1253:Four Modernizations 1135:www.yicaiglobal.com 412:Notable investments 308:as part of an anti- 267:Ministry of Finance 126:Ministry of Finance 23: 2440:Chinese economists 2413:National Standards 2309:2007 slave scandal 2217:Bohai Economic Rim 2184:Made in China 2025 2133:Internal migration 2118:Standard of living 1906:Financial services 1780:Labor contract law 1734:Illegal drug trade 1704:World Trade Center 1540:Telecommunications 1488:equipment industry 1320:Advanced materials 1285:Population history 1248:Great Leap Forward 1202:Companies of China 240:In June 2014, the 206:Made in China 2025 41:国家集成电路产业投资基金股份有限公司 21: 2491: 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Index


State-owned enterprise
Investment management
Beijing
China
AUM
Ministry of Finance
China Development Bank
China Tobacco
Chinese
pinyin
Chinese
pinyin
China Government Guidance Fund
semiconductor industry
Made in China 2025
semiconductor industry in China
SMIC
Hua Hong Semiconductor
YMTC
State Council of the People's Republic of China
China Development Bank
Ministry of Industry and Information Technology
mergers and acquisitions
Ministry of Finance
two tier
GF Securities
wafer fabrication
CSC Financial
Chinese Communist Party

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