China Establishes USD 30 Bln Electronics Industry Fund

On January 8, the China Information Technology Industry Federation (CITIF) and the Ping An Bank announced the establishment of a new 30 billion USD electronics industry investment fund, with the aim of advancing key industrial development plans such as China Manufacturing 2025 and the Internet Plus Action Plan.

According to the Ping An Bank announcement, the fund will be focused on four key areas:

Industrial cluster zones, particularly in promoting smart manufacturing

Modern urban service sector

Public innovation and development platforms

International think tank research systems

CITIF was established in June 2014 and is currently comprised of 312 members, 244 of which are categorized as electronics companies. CITIF chairman Zhou Zixue is also the chairman of Semiconductor Manufacturing Industry Corporation (SMIC)