大发3分彩精准计划_Shanghai sets up investment fund for IC industry development

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大发3分彩精准计划sHA大发3分彩精准计划nGHAI - Shanghai has established a 150 billion yuan ($7.5 billion) investment fund to boost the development of its integ大发3分彩精准计划rated circuit (IC) industry, a local official announced Wednesday.

The initial round of fundraising was completed in September, said Huang Ou, deputy director of Shanghai Municipal Commission of Economy and Information Technology, at the IC China 2017 expo in Shanghai.

From now until 2020, the government-backed fund will attract more private investment in the IC industry, with the proposed combined investment totaling more than 150 billion yuan, Huang said at the expo.

As a leader in the IC industry, Shanghai has long regarded the high-tech sector as a pillar industry and given it strong support, he said.

In the first half of this year, Shanghai's IC sector reported a sales revenue of 150 billion yuan, up 12 percent year-on-year.

Shanghai will continue to develop its IC industry to make it a nationwide source of innovation, he said.

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