China is about to finalise a $47bn investment fund focusing on semiconductor research and chip development, the Wall Street Journal has reported this week.

According to other sources, the fund – which will be primarily backed by Chinese government agencies – has been in the pipeline for several months, but officials are thought to have agreed to increase its size in the wake of the ongoing trade dispute with the Trump administration.

China currently imports around 90% of the chips used by its manufacturers, TechCrunch reported.