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China Everbright betting on chip-sector growth with $500m fund

Investment arm of state-owned group ties up with American partner Walden

Chen Shuang, CEO of China Everbright Ltd.

HONG KONG -- Investment firm China Everbright Ltd. is jointly launching a fund with U.S. venture capital company Walden International Group to invest up to $500 million in the semiconductor sector and elsewhere.

Chinese businesses are making massive investments in the chip sector, and the pace of development is increasing, China Everbright CEO Chen Shuang told media organizations including The Nikkei. Restrictions by foreign governments on investments from China will not last long, he predicted.

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