China Growth Stocks

[$pooky]

CNTF related - Local governments court technology firms to boost economy

http://www.chinadaily.com.cn/cndy/2010-01/25/content_9368968.htm

(...) "We want to create in the city a Chinese silicon valley for the mobile industry," said Gou Zhongwen, vice-mayor of Beijing. He said the local government plans to make the telecom industry a new economic engine for the capital in the next three to five years.

Last month, about 20 telecom firms, including Jingxin Semiconductor and TechFaith Wireless Inc, signed a memorandum to invest 4 billion yuan in the new technology park.

Jingxi and Techfaith are both domestic telecom firms. They announced last year the purchase of the mobile chip business of the US chip maker Freescale Semiconductor, previously a division of Motorola. (...)