Ministry of Finance: IC Industry Fund "Running Smoothly"

On Monday, the Ministry of Finance (MOF) published an update on the status of the National IC Industry Investment Fund, stating that one year after it's official creation, "the fund is operating smoothly" and "the fund will pursue equitable returns on investment."

MOF was one of four co-publishers of the IC Industry Development Promotion Guidelines, along with the Ministry of Industry and Information Technology, the National Reform and Development Commission, and the Ministry of Science and Technology. In addition, MOF is the single largest source of capital for the National IC Fund, having contributed 36 billion RMB.

The update also confirmed that the fund has already raised more than 100 billion RMB (other public sources put the sum at 138.82 billion RMB), and that the duration of the fund will be ten years.