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China's chip industry investment fund raises 114 billion yuan from major banks

China

China

China

China's chip industry investment fund raises 114 billion yuan from major banks

2024-05-28 17:59 Last Updated At:19:07

China's National Integrated Circuit Industry Investment Fund, also known as "Big Fund," has been funded from the country's six major banks in its third phase, according to announcements released by these banks on Monday.

The Bank of China, ICBC, and China Construction Bank are among the lenders which will make a total investment of 114 billion yuan (about 15.7 billion U.S. dollars).

Insiders said that areas of investment have yet to be determined, but the fund is likely to focus on equipment, materials, and parts for large chip factories and other stranglehold areas.

Analysts also expected the fund to list high-value added dynamic random-access memory chips as a target of investment.

China's chip industry investment fund raises 114 billion yuan from major banks

China's chip industry investment fund raises 114 billion yuan from major banks

China's chip industry investment fund raises 114 billion yuan from major banks

China's chip industry investment fund raises 114 billion yuan from major banks

China's railways carried a total of 337 million tons of freight in May this year, up 2.8 percent year on year, with demand for coal-driven electricity as a driving force behind the movement.

The month saw nearly 71 million tons of freight transported by containers, up 20 percent year on year, according to statistics from China Railway.

According to China Railway, demand for electricity as summer approaches is keeping the railway system at high capacity. To support coal transportation of coal within the country and the export of Xinjiang coal, the average daily loading of coal on railways nationwide remained above 80,000 wagons and 55,000 wagons, respectively.

In international freight transport, China sent a total of 1,724 freight trains to Europe in May, sending 186,000 twenty-foot equivalent units of cargo, up 14 percent and 13 percent respectively year on year, setting a record for transport volume in a single month.

The China-Laos Railway carried 473,000 tons of cargo across the border in the month, up 16.2 percent year-on-year, along with a surge in fruit and vegetables transported to and from Southeast Asia.

China continues to promote its campaign to shift road freight to rail. Ports across the country are improving ship-to-train transshipment solutions with an average of 33,600 wagons transshipped per day, up 15.4 percent year-on-year.

China's freight trains carry 337 million tons in May, with container traffic grows quickly

China's freight trains carry 337 million tons in May, with container traffic grows quickly

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