The Digital Source For China's Tech Innovation Since 2000

Search
Close this search box.

Vimicro Signs Strategic Agreement With Fuzhou Government

June 15, 2012
Business | Gadgets & Electronics

Vimicro Corporation, a Chinese fabless chip company, announced a strategic cooperation framework agreement with the municipal government of Fuzhou for the development, manufacturing, and sales of Surveillance Video and Audio Coding-based security monitoring products in the city.

Under the cooperation agreement, Vimicro will establish a Fuzhou branch, which will be managed by Raymond Zhang, chief technology officer of Vimicro.

Fuzhou government will provide various support to the Vimicro Fuzhou branch. For security product procurement, Fuzhou government will consider Vimicro the preferential supplier. Fuzhou's monitoring products should meet the Surveillance Video and Audio Coding national standards, which were jointly formulated by Vimicro and Ministry of Public Security of China. The Fuzhou government will provide Vimicro Fuzhou with a 3,000-square-meter area for development and manufacturing and the land will be offered free-of-charge for the first two years.

Meanwhile, the Fuzhou government will provide five-year interest-free loans of CNY60 million as well as a subsidy of CNY30 million to the company.

Vimicro Corporation is a Chinese fabless chip company which specializes in research and development, production, and marketing of multimedia processors for PCs and mobile phones. It is headquartered in Haidian district, Beijing, China.

Tags: chip | fabless | Fuzhou | manufacturing | Ministry of Public Security | procurement | sourcing | subsidy | surveillance | Vimicro

Other Related News:

What the midterm madness means for startups

November 13, 2022

Apple was subjected to a fraud attempt by one of its Chinese suppliers

May 25, 2022

It is reported that Tesla will build a second factory in Shanghai with a planned annual production capacity of 450,000 vehicles, mainly producing Model 3 and Model Y models – yqqlm

May 5, 2022

Walmart, Intel Face Backlash In China For Avoiding Imports From Xinjiang Under New U.S. Law Todayuknews

December 29, 2021

There is no better tap than Taiwan Semiconductor Manufacturing Company Limited (TSM) Stock

January 25, 2022

Let’s Get Started On The Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) Stock Forecast.

August 23, 2022

SoftBank wins key corporate battle in China by ousting defiant CEO from Arm joint venture 24HTECH.ASIA

May 8, 2022

Chinese Companies Form Green Mobile Phone Alliance

June 9, 2010

Nearly 3 Billion RFID Tags Shipped In China By 2009

March 9, 2006
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter