SUMMARY

• Guangdong launches 30 billion yuan ($4.37 billion) second phase of semiconductor fund
• Focus on auto chips and semiconductor material equipment investments
• First phase invested in 102 companies, with 19 set to go public in 2023 and 2024

Hang on to your silicon hats, tech enthusiasts! Guangdong province in southern China is getting ready to launch the second phase of its colossal semiconductor fund, totaling a cool 30 billion yuan (that's $4.37 billion, if you're curious). This exciting development was recently reported by the Securities Times.

This whopping fund has a 17-year term and is all set to invest in auto chips and semiconductor material equipment. Jin Shenghong, the chairman of trust company Yuecai Holdings, spilled the beans at a semiconductor event in Guangdong.

The first phase of the fund, established in 2021, has already hit the 31 billion yuan mark, investing in a whopping 102 companies. Out of these, 19 lucky firms are getting ready to go public in 2023 and 2024, according to the same report.

Why the big push for semiconductors, you ask? Well, China is on a mission to become self-reliant in key technologies, especially since the United States has been throwing a wrench in their plans by citing national security concerns and restricting access to vital supply chains.

Beijing is on a roll, urging researchers to accelerate the development of cutting-edge technologies. Other chip-focused funds include the China Integrated Circuit Industry Investment Fund, fondly known as the "Big Fund," which was launched back in 2014.

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