Jiangsu

Shanghai planning US$13.8 billion fund of funds in pursuit of ‘several world-class industry clusters’, with eye on AI, biotech and semiconductors

by

The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday. The local state-owned assets watchdog will be responsible for the fund’s establishment and operations. It will be the city’s largest government-backed … Read more

Apple supplier Luxshare to take control of key iPhone plant in eastern China via US$300 million deal with Taiwan’s Pegatron

by

Apple’s key Chinese manufacturing partner Luxshare Precision Industry Co is set to gain control of an iPhone assembly site run by a Taiwanese rival, as the US tech giant fosters ties with mainland China-based suppliers to improve relations with Beijing. Luxshare is set to buy a 62.5 per cent stake in Pegatron Corp’s unit in … Read more