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An investment company on silicon industry is launched in Jiading district of Shanghai at a signing ceremony, Nov 11. [Photo/jiading.gov.cn] |
In line with the term of enhancing the development of basic industrial materials in the nation's Made in China 2025 plan, an investment company on silicon industry has been announced on Nov 11 at a signing ceremony. It will be established in Jiading district of Shanghai, local media reported.
With 2 billion yuan ($313.5 million) in registered capital, the company is a joint venture of the National Integrated Circuit (IC) Industry Investment Fund, the Shanghai Guosheng Group, the Shanghai SIMIC Co, the Jiading Industrial Zone Economic Development Co and a local IC equity investment firm.
Local authorities said that taking advantage of the National Integrated Circuit Industry Investment Fund and Shanghai's favorable conditions, the company aimed to improve the overall competitiveness of the country's silicon industry by enlarging investment, conducting M&A and promoting innovation and international cooperation.
Wang Xi, academician with the Chinese Academy of Science and director of the Shanghai Institute of Microsystem and Information Technology, also emphasized the necessity of having such a company and said that it will help promote the development of silicon materials.