China’s funding round to boost chip industry struggling to raise target of $41 billion – FT

(Reuters) – The funding round launched by China to support its semiconductor industry is struggling in the initial phases to raise its target of 300 billion yuan ($41.1 billion), with the difficult economic climate being blamed, the Financial Times reported, citing people familiar with the situation.

($1 = 7.3039 Chinese yuan)

(Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Jacqueline Wong)