China Launches $71.4B Tech Funds

Chinas Venture into Hard Technology: A Massive Investment in Semiconductors and Advanced ManufacturingChina has announced the launch of three colossal venture capital funds, each with over 50 billion yuan (around 7.14 billion dollars), totaling over 150 billion yuan. These funds focus on hard technology sectors like semiconductors, aiming to boost Chinas tech sector and reduce dependence on global supply chains. The move reflects Chinas push for self-reliance in critical technologies amid global tensions. Experts anticipate a wave of breakthroughs and global talent attraction. Keep an eye out for announcements on backed startups that could reshape industries like chips and advanced manufacturing.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.