Aug 17, 2023 04:44 AM

BUSINESS

State Investors to Inject $1.7 Billion in Shenzhen Wafer Foundry

By Liu Peilin and Han Wei

00:00

00:00/00:00

Listen to this article 1x

Runpeng in February raised 2.3 billion yuan to fund the Shenzhen wafer production project

Runpeng in February raised 2.3 billion yuan to fund the Shenzhen wafer production project

State investors including China’s biggest government-backed chip investment fund agreed to pour 12.6 billion yuan ($1.7 billion) into a wafer production project in Shenzhen as the country strives to boost its domestic chipmaking capacity.

Shanghai-listed China Resources Microelectronics Ltd. (CR Micro) said in an exchange filing Tuesday that its board has approved a plan for its Shenzhen subsidiary Runpeng Semiconductors to sell shares to several investors.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: China Celebrates Golden Week

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Why Singapore Sovereign Fund Sues Chinese EV-Maker Nio

00:00

00:00/00:00

MOST POPULAR

1: Cover Story: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush

2: Shenzhen’s Secondhand Home Sales Briefly Rebound in September After Easing of Purchase Restrictions

3: Xiaomi, EV Rivals Offer Tax Subsidies Ahead of China’s 2026 Incentive Cut

4: China’s MetaX Wins IPO Nod as AI Chipmakers Race to Go Public

5: The Week Ahead (Oct. 27-Nov. 2): Xi, Trump to Pay State Visits to South Korea

SPONSORED

OR