Chip giants launch a 3.91 billion yuan private equity fund to boost the country’s ‘hard tech’ sectors

Source:SCMP

02 — Who / Subject

ChangXin Memory Technologies (CXMT), Alibaba Group, and other tech firms

03 — Where / Locus

Shanghai, China

04 — When / Temporality

June 9, 2026

Verified: June 9, 2026

05 — Why / Core Summary

"Leading Chinese tech firms, including CXMT and Alibaba, launched a 3.91 billion yuan fund. The fund aims to support 'hard tech' sectors amid tightening US export curbs. The Changzhi Hanhai Private Investment Fund is registered in Shanghai."

Conflict Analysis

This move reflects China's strategic push for semiconductor self-sufficiency in response to US trade restrictions.

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COMPAMIR

COMPAMIR

Chip giants launch a 3.91 billion yuan private equity fund to boost the country’s ‘hard tech’ sectors