Foxconn and Jinan government set up $545M semiconductor fund

Foxconn Technology Group inked a deal with the municipal government of Jinan, China to establish a RMB3.75 billion (US$545.93 million) fund to invest in Foxconn's semiconductor projects and promote Jinan's semiconductor sector. Foxconn restructured to form a semiconductor-focused subsidiary.

“Foxconn Technology Group has inked a deal with a municipal government in eastern China’s Shandong province to establish a RMB3.75 billion (US$545.93 million) fund, raising the company’s stakes in the country’s semiconductor sector.”nai500.com

• 1 source
• nai500.comFoxconn Sets Up $545M Fund With China’s Jinan Government To Pursue Semiconductor Ambitions | NAI 500Amy LiuOct 6, 2018

Summarized from public sources; check the original articles before acting on it.