This is the best summary I could come up with:

China is doubling down on its plan to dominate advanced technologies of the future by setting up its largest-ever semiconductor state investment fund, according to information posted by a government-run agency.

In 2022, the country’s anti-graft watchdog launched a crackdown on the semiconductor industry, investigating some of China’s top figures in state-owned chip companies.

Lu Jun, former chief executive of Sino IC Capital, which managed the “Big Fund,” was probed and indicted on bribery charges in March, according to a statement by the country’s top prosecutor.

In October 2022, the US unveiled a sweeping set of export controls that ban Chinese companies from buying advanced chips and chip-making equipment without a license.

The new chip fund is not only a defensive move to counter Western sanctions, but also part of Xi’s long-held ambitions to make China a global leader in technology.

In a meeting with the Dutch Prime Minister Mark Rutte in March, Xi said that “no force can stop China’s scientific and technological development.”

The original article contains 584 words, the summary contains 163 words. Saved 72%. I’m a bot and I’m open source!