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Huanxin fund established in Lin-gang to boost IC development

en.lingang.gov.cn| Updated: Aug 11, 2022 L M S

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The Lin-gang Special Area is moving to build a world-class integrated circuits industry cluster. [Photo/WeChat ID: lgqyfwj]

A special fund was recently set up to boost the development of the integrated circuits, or IC sector in the Ling-gang Special Area of East China's Shanghai city.

The first phase of the fund – called Shanghai Huanxin Private Investment Fund Partnership (Limited) – completed registration and filing and was set up in Lin-gang with initial funding of 1 billion yuan ($147.95 million).

The fund was formed by Shanghai Lin-gang Special Area Investment Holding (Group) Co Ltd, China State-owned Enterprise Mixed Ownership Reform Fund Co Ltd and the Lin-gang Special Area Dahe Asset Allocation Fund. The manager of the fund is the Lin-gang Special Area Private Fund Management Co Ltd.

The fund will focus on supporting strategic emerging technology industries – such as integrated circuits and intelligent new energy – and will mainly invest in growing enterprises and enterprises at the early and middle stages.

It will aim to mobilize the resources of the IC industry and the layout of the advanced manufacturing process. The fund is expected to actively undertake national strategies and learn from the latest in technology from all over the world.

Lin-gang Special Area Private Fund Management Co Ltd, founded in 2015, has obtained the qualifications to manage funds from the Asset Management Association of China. It focuses on innovative platforms, major strategic projects and high-quality enterprises and provides a range of services for them.

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