China to set up 16-bln-USD integrated circuit investment firm

2018-02-14 03:00:26 GMT2018-02-14 11:00:26(Beijing Time) Xinhua English

CHONGQING, Feb. 13 (Xinhua) -- The municipal government ofChongqing, Tsinghua Unigroup and Sino IC Capital have signed astrategic agreement to set up an integrated circuit (IC) investmentfirm with a registered capital of 100 billion yuan (15.8 billionU.S. dollars).

The joint venture is expected to invest up to 100 billion U.S.dollars in the IC manufacturing bases of Tsinghua Unigroup in thenext 10 years, the Chongqing municipal government said Tuesday.

China's leading chip maker Unigroup also agreed to build anindustrial park in the southwestern Chinese city with an estimatedinvestment of over 60 billion yuan. The park will be home to itsresearch and development center and manufacturing base of variousIC products.

This is the biggest industrial investment since Chongqing becamethe country's fourth municipality in 1997.

Chongqing is a new electronics production case in China, withthe electronics industry contributing more than 570 billion yuan,or one fourth of its industrial output in 2017.

Unigroup's industrial park in Chongqing will be able to boostthe development of upstream and downstream firms and generate atotal sales revenue of over 100 billion yuan annually after it goesinto operation.

Sino IC Capital, which manages the China Integrated CircuitIndustry Fund, will help promote more IC companies to operate inChongqing. Enditem