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Tsinghua Unigroup gets $22 billion funding for chips business

2017-04-05

Tsinghua Unigroup, a subsidiary of Tsinghua Holdings, signed agreements with two Chinese State-controlled financial institutions on March 28 that will secure the company 150 billion yuan ($22 billion) of funding to invest in its integrated circuit business. 

The China Development Bank, a policy bank run directly by China's State Council, plans to provide Tsinghua Unigroup with a range of financial support and services worth 100 billion yuan over the course of the Thirteenth Five-