China prepares $27 bln chip fund to counter growing US restrictions

China prepares $27 bln chip fund to counter growing US restrictions

Technology

China prepares $27 bln chip fund to counter growing US restrictions

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(Reuters) - China is in the process of raising more than $27 billion for its largest chip fund to date to accelerate the development of cutting-edge technologies to counter a US campaign to thwart its rise, Bloomberg News reported on Friday.