China’s national semiconductor fund has trimmed its holdings in the country’s biggest chip maker, cashing out from earlier investments, as Beijing makes tactical adjustments to support the country’s semiconductor firms.The China National Integrated Circuit Industry Investment Fund, initiated by the central government in 2014 with a registered capital of US$15.5 billion, sold 45 million shares of Semiconductor Manufacturing International Corporation (SMIC) last Friday at HK$26.2 per share and…



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