On August 5, an investment fund of no less than 30 billion yuan was set up in Hubei IC Industry in the East Lake National Innovation Demonstration Zone, a huge step forward for strategically emergent industries in the China Optics Valley.
Accordingly, its establishment was based on the spirit of "Hubei Provincial People's Government's Approval about Hubei IC Industry Investment Fund Establishment Programs".
The Hubei IC industry investment fund, will focus on integrated circuit chip manufacturing, taking into account of vertical integration of industry chains, including design, packaging and testing, and will promote the province's IC industry to achieve leaps in development.
In June 2014, the State Council issued a "National Integrated Circuit Industry Development & Promotion Outline", making it clear that the integrated circuit industry is an integral part of the national strategy. In the strategy, Wuhan has become one of the four major industrial zones for integrated circuits, and receives great support from the country.
To this end, the East Lake High-tech Zone is committed to building "Wuhan ? China Chip Valley". And in order to ensure national information security, it also supports mainstay enterprises to make a breakthrough in the core technologies, realizing the self-control of core products. According to a unified strategic plan from Hubei Province and Wuhan City, Hubei IC industry investment fund was initiated and established by the Wuhan Economic Development and Investment (Group) Co Ltd with the involvement of Hubei Science & Technology Investment Corporation and other companies.
Subject to market forces and focusing on the development of national key projects, it is striving to build a first-class high-tech shares funds and financial services platform so as to upgrade the overall IC industry chain in Hubei.
Also, the fund will establish sub-funds and special financial services platforms to dock with domestic and overseas capital markets, logically combining national strategy with market mechanisms to create one hundred billion integrated circuit plants in the Optics Valley.
In addition, it is said that the fund has reserved more than 20 large-scale projects of integrated circuit which are actively exploring substantive strategic cooperation with national integrated circuit funds and other financial institutions, and will carry on acquiring capital domestically and overseas to drive the rapid development of industry in the future.
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