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Signing Ceremony of Shanghai IC Equipment and Material Industry Investment Fund successfully held
Date of issue:2017-08-03

On July 21, 2017, the signing ceremony of Shanghai Integrated Circuit Equipment and Material Industry Investment Fund (hereafter referred to as "the fund") was held in Lingang, Shanghai. Mr. Bo Zhou, member of CPC Shanghai Standing Committee and Executive Vice Mayor of Shanghai, attended the ceremony. Mr. Xingming.Deputy Secretary General of Shanghai Municipal Government, presided over the meeting. Attendees include senior officials and representatives from Shanghai Development and Reform Commission, Shanghai Economy and IT Application Commission, Shanghai Science and Technology Commission, Shanghai State-owned Assets Supervision and Administration Commission, Shanghai Municipal Finance Bureau, Shanghai Financial Services Office, Pudong New Area People’s Government, National IC Industry Investment Fund Co., Ltd., Institute of Microelectronics of Chinese Academy of Sciences, Shanghai Institute of Microelectronics of Chinese Academy of Sciences, China Development Bank (CDB) Shanghai Branch, Sino IC Capital and Shanghai Pudong Science and Technology Investment Co., Ltd. and other related parties.

The total size of the fund is over 10 billion yuan with an upfront capital injection of 5 billion yuan, funded by Lingang Area Development Administration, Guosheng Group, Bank of Nanjing, Shanghai Wanye Enterprises Co., Ltd and other investors. A dedicated fund management company will be co-established by Shanghai Pudong Science and Technology Investment Co., Ltd. and Sino IC Capital.

To further enhance the fund’s investment strength, CDB Shanghai Branch, Lingang Area Development Administratio, Sino IC Capital and Shanghai Pudong Science and Technology Investment Co., Ltd signed the memorandum of cooperation, that an additional 10 billion yuan will be funded by CBD Shanghai Branch, in order to increase the total amount of capital under the fund to 20 billion yuan.

Aiming at consolidating the now fragmented domestic market of integrated circuit equipment and material, matching demand with supply and introducing quality resources, the fund will bring together small market players, strengthen key sectors and weak links, give full play to the capacity expansion of downstream vendors and take advantage of the favorable policies offered by Shanghai municipality and Lingang administration, as well as the management expertise of Shanghai Pudong Science and Technology Investment Co., Ltd. and Sino IC Capital. The fund will carry out various investment strategies to cultivate world-leading IC equipment and material companies in key market segments and drive growth across the domestic IC industry chain.

          The first IC Equipment & Material Industry/Dishui Lake Forum was held after the signing ceremony. A group of reputable experts and entrepreneurs from worldwide held a discussion about how to enhance the fund’s global competitiveness, and provided advice to its strategic direction.

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