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Tsinghua Unigroup Co, a leading enterprise in integrated circuit (IC) design industry in Zhongguancun, recently signed a cooperation agreement with National IC Industry Investment Fund Ltd, Huaxin Fund Management Co Ltd, and China Development Bank for financing projects and investments worth 30 billion yuan ($4.77 billion) to promote IC business.
According to the agreement, National IC Industry Investment Fund Ltd will provide up to 10 billion yuan for Tsinghua Unigroup Co in the form of equity investment over the next five years to expand the scale and enhance the core competitiveness of the IC design business.
Moreover, China Development Bank intends to co-finance with Tsinghua Unigroup Co in various financial products worth 20 billion yuan..
Tsinghua Unigroup Co, the largest IC design enterprise in China, generated a total revenue of about 9 billion yuan in 2014.
Its affiliates, Spreadtrum Co and RDA Microelectronics Co, respectively rank first and second in the field of mobile chips.
Tsinghua Unigroup Co aims to surpass Media Tek Inc in five years and become a world-class IC design company ranking second in the industry and first in shipment volume.
