It is proposed in the Outline on Promoting the Development of the National Integrated Circuit Industry issued by the State Council of China in January 2014 that a state-level investment fund for the integrated circuit industry be set up to provide focused support for the development of the industry. On June 9, upon special approval of the State Council, CDB issued a loan of RMB 30 billion through special credit extension to CDBC, which raised RMB 2 billion for the fund, thus bringing the total amount of the fund to RMB 32 billion, and a fund management company was established by CDBC as a leading player. Sino-IC Capital Co., Ltd. was established in August. The ICF was officially set up in September, with a total investment of RMB 120 billion, making it the largest single-phase fund investment in China so far. As of the end of June 2015, the fund has made investment decisions on 11 projects and pledged RMB 18.8 billion, of which RMB 10.2 billion has been invested. The ICF was set up as an integral part of the effort to promote leapfrog development of China’s integrated circuit industry. It was another policy task undertaken by CDB after urban renewal programs, which has opened a new path for CDB towards supporting China’s new type of industrialization and informatization process.