BEIJING--The global investment arm of US chip maker Intel Corp said Tuesday it had established a new China fund aiming to inject 500 million dollars into ventures in the booming Asian market.

Intel Capital told a briefing in Beijing its Capital China Technology Fund II will be focusing on investments in wireless broadband, technology, media, telecommunications and "clean tech".

Intel Capital's first 200-million-dollar China fund has been fully invested in local Chinese companies, the company said.

"Since 1998 Intel Capital has invested in more than 70 companies across China and Hong Kong," said Intel Capital president Arvind Sodhani in a statement.

"We aim to foster innovation and local entrepreneurship, while enriching the technical capabilities and global competitiveness of technology companies in the region," Sodhani said.