(Yicai Global) Oct. 27 -- A new industrial base for the production of integrated circuits and semiconductors, known as the Eastern Core Port, was inaugurated in Shanghai today with the signing of 14 key projects worth CNY22.5 billion (USD3.4 billion), online news outlet The Paper reported.

Local chipmakers Advanced Micro-Fabrication Equipment, Awinic Technology and Longsys Electronics were all part of the line-up, the report said without going into further details. All the players are part of the integrated circuit industrial chain from chip design and chip making to the manufacturing of equipment and key materials.

Located in the city’s Lingang New Area, part of the China (Shanghai) Pilot Free Trade Zone, the Eastern Core Port aims to become a national integrated circuit industrial base featuring the most advanced technologies, the most complete array of equipment materials and the most dynamic design firms. It should reach an industrial scale of CNY100 billion (USD15 billion) by 2025 and achieve global influence by 2035.

Lingang New Area is already home to more than 40 firms in the semiconductor industry that have invested over CNY150 billion (USD22.4 billion) in the zone. These include Wingtech Technology, Kingstone Semiconductor, Shanghai-based Zing Semiconductor, Cambricon Technologies and Horizon Robotics.

Editor: Kim Taylor