English
China's Tsinghua Secures $22 Billion in State Backing
Dylan McGrath, EETimes
4/4/2017 05:01 PM EDT
SAN FRANCISCO—China's Tsinghua Unigroup Ltd. announced it secured deals that would provide it with an additional 150 billion yuan (about $21.8 billion) in financing from two government-backed sources.
The China Development Bank pledged 100 billion yuan (about $14.5 billion) in financing while China's Integrated Circuit Investment Fund will invest up to 50 billion yuan (about $7.3 billion) in China's largest semiconductor company, according to a statement posted by Tsinghua in late March.
Tsinghua said the financing was provided to the company for upgrades and to enhance its core competitiveness.
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