Sichuan Announces New 10b RMB IC and Infosec Investment Fund

On May 29, the vice director of the Sichuan Provincial Committee for Economy and Informatization, Fang Cunhao, announced the formation of a 10 billion RMB provincial support fund aimed at promoting the province's information security and integrated circuit industries. 

"As one of the five high-end industries that Sichuan Province is focused on, the information security industry will receive new support," said Vice Director Fang in an article published by People's Daily Online that was reposted on the Sichuan Provincial government website. "At present, we are in the process of forming an information security and integrated circuit industry fund, and with funding from the government, from the National IC Investment Fund and from various social capital sources, we will raise 10 billion RMB to promote the development of information security and integrated circuits."

According to Vice Director Fang, the fund will be market driven and support traditional program funding, R&D and the development of information security and IC applications.