China’s Big Fund Makes a Big Splash With $1.9 Billion Chipmaker Investment

(Bloomberg) — China pledged to invest an additional $1.9 billion in the country’s biggest maker of memory chips, a deal that may herald a renewed influx of government capital into an industry hemmed in by U.S. sanctions.

The National Integrated Circuit Industry Investment Fund Ltd. will commit 12.9 billion yuan toward Yangtze Memory Technologies Co., according to a government website that discloses company registration information. The capital infusion from the Big Fund, as Beijing’s signature investment vehicle is commonly known, was slated for completion Jan. 31, according to the website, Tianyancha.