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China will support those funds to expand business, such as overseas equity investment, debt financing, and cross-border guarantee.
China's National Science and Technological Innovation Plan, announced last year, called innovation "a primary driving force for development", and President Xi Jinping has described innovation as "the soul of the people and the source for the country's prosperity".
China's GDP expanded at higher-than-expected 6.9 percent year-on-year in the first quarter. The NBS is scheduled to release the second-quarter GDP growth on July 17.
China's benchmark Shanghai Composite Index fell 24.6 percent to 2,493.9 points in 2018. It, however, has made a strong rebound so far this year, rallying to exceed 2880 points Monday morning.
China's IC industry has seen an average compound annual growth rate of more than 20 percent. In 2019, the country's IC industry reached a size of more than 700 billion yuan (3.1 billion), up by 15.8 percent year-on-year, said Yang Xudong, an official with the Ministry of Industry and Information Technology.
来源：资阳报