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Joint Bank Credit Supports Chip-making Base
A joint credit line totaling 3.2 billion yuan (386 million US dollars) was given by four banks in Shanghai to support the development of the city's Zhangjiang integrated circuit industry base.
The agreement on the loan was signed Wednesday between companies responsible for the base and the banks: the Shanghai Bank, the Industrial and Commercial Bank of China, the Bank of Communications and the China Construction Bank.
The base covers 6 square kilometers in the Zhangjiang Hi-tech Park, and was set up by the Zhangjiang Hi-tech Park Development Co. and Shanghai Pudong Land Development Co., with an investment of 600 million yuan (72 million US dollars).
The base aims to develop a strong chip-making industry. It had witnessed the settlement of 60 integrated circuit projects by the end of June this year, involving a total capital of 4 billion US dollars.
The base is expected to build up a monthly chip-making capacity of 200,000 to 300,000, with its annual output value hitting 2.5 billion US dollars.
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