SMIC sets up JV with local government

“The signing of the joint venture agreement marks the start of a project to bring the manufacture of MEMS and power devices to Shaoxing,” a press release from SMIC reads. The investment of this signed joint venture amounts to RMB 5.88 Billion (EUR 753.7 million). The company will focus on the fields of MEMS and power devices with a wafer and module foundry that will continue to grow and develop with sustained R&D investment. “Specialty MEMS technologies are at the core of the intelligentisation of our industry and society, while the advanced manufacturing base for MEMS and power device chips is still relatively weak in China's domestic semiconductor ecosystem,” the release continues.