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Samsung invests in Xi'an memory chip production line

Updated: 2017-08-31 16:11:45 EmailPrint

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Leaders formally launch the second phase construction of Samsung's memory chip plant in the Xi'an High-tech Industries Development Zone on Aug 30. [Photo provided to chinadaily.com.cn]

Samsung Electronics Co (SEC) has planned to build a second phase for its memory chip plant in Shaanxi province with a $7-billion investment confirmed through the signing of an agreement with the provincial government on Aug 30.

Hu Heping, governor of Shaanxi province, and Kinam Kim, president of Samsung's semiconductor division, attended the signing ceremony in the Xi'an High-tech Industries Development Zone.

"The Xi'an first project, setting up the Samsung China Semiconductor Co, proved to be a huge success, yielding an annual output value of over 20 billion yuan ($3.03 billion) and drawing over 100 supporting companies to the zone," shared Hu. "SEC has formed a complete industrial chain integrating manufacturing, packaging and testing in Xi'an."

The partnership with SEC will strengthen Xi'an's role as a major base for the semiconductor industry and sharpen its international competitiveness.

Wang Yongkang, Xi'an municipal Party secretary, expressed his appreciation for the support from the company and the government, saying that Xi'an will provide the best service to ensure the cooperation and mutual development on a wider scale.

Shaanxi province has made great efforts in facilitating external business. It has halved the average import customs clearance time, and reduced the export time by 70 percent after the China (Shaanxi) Pilot Free Trade Zone officially began operations.

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Kinam Kim, president of the SEC semiconductor division (L), and Hu Heping, governor of Shaanxi province, sign a cooperation contract. [Photo provided to chinadaily.com.cn]

Edited by Zachary Dye

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