Five Major Lenders Contribute to China's 344 Billion Yuan Integrated Circuit Fund

MT Newswires Live05-28

Five Major Lenders Contribute to China's 344 Billion Yuan Integrated Circuit Fund Five major Chinese banks were among 19 entities that invested in the third phase of China's 344 billion yuan national...

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Stock Exchange.The National Integrated Circuit Industry Investment Fund will invest in integrated circuits.China Construction Bank (HKG:0939, SHA:601939), Industrial and Commercial Bank of China (HKG:1398, SHA:601398) and Agricultural Bank of China (HKG:1288, SHA:601288) each contributed 21.5 billion yuan, representing 6.25% of the fund's capital. Bank of Communications (SHA:601328, HKG:3328) and Postal Savings Bank of China (HKG:1658, SHA:601658) contributed 20 billion yuan and 8 billion yuan, respectively, representing 5.81% and 2.33% of the fund's capital. The lenders' contributions are expected to be paid in full within 10 years, all of the banks said on Monday. 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