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China Sets Up Third Fund with $47.5 Billion to Boost Semiconductor Sector
BEIJING, May 27 (Reuters) – China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of 344 billion yuan ($47.5 billion), according to a filing with a government-run companies registry. The hundreds of billions of yuan invested in the sector puts into perspective President Xi Jinping’s…