Chinese city pours $29 bn to build chips as India, US eye semiconductor dominance

Hong Kong: As India and the US double down on local semiconductor manufacturing, the municipal government of Guangzhou in China has invested 200 billion yuan ($29 billion) to establish funds that will help spur activities involving semiconductors, the media reported on Tuesday.

Guangzhou’s Industry Investment Fund of Funds (FoF) will focus on activities involving semiconductors, renewable energy and advanced manufacturing, reports the South China Morning Post.