FIFA, April 15 (Xinhua)-- at the Shanghai Automotive Core Valley Global (the first) Automotive Chip Industry Summit held today, SAIC initiated the establishment of a 6 billion yuan SAIC chip industry ecological fund. Wei Yong, vice president and chief financial officer of SAIC, said that the localization of automotive chips is an important measure to ensure the supply chain security of China's automotive industry. SAIC has formulated three major measures: rapidly landing mature chips, implementing major projects, and improving the industrial ecology. Wei Yong said that in the future, the SAIC Chip Industry Ecological Fund will form a strong collaborative relationship with the Shanghai Automotive Chip Engineering Center, SAIC vehicle enterprises and parts enterprises led by SAIC Group and Shanghai Micro-Technology Industrial Research Institute, and will mainly invest in potential production lines of Fabless enterprises, other chip-related businesses and automotive innovation and transformation-related businesses.