➀ The Beijing municipal government has established a new semiconductor investment fund with a registered capital of 8.5 billion yuan (US$1.2 billion), managed by Zhongguancun Development Group. ➁ This move is part of China's broader strategy to support its chip industry amidst heightened trade tensions with the US. ➂ The new fund joins other initiatives from local governments, including the 'Big Fund' and the Shanghai Semiconductor Industry Investment Fund, indicating a national push towards semiconductor self-sufficiency.