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CEC agrees to set up IT headquarters in Pudong
China Electronics Corp will set up an information technology research development headquarters in the Pudong New Area, the latest move of Shanghai to transform its economy into a more innovation-driven model.
CEC and the Pudong government signed a deal yesterday for the new headquarters which will research into integrated circuit, core software, information security and Internet finance sectors. Both sides will develop a technology industry zone in the Zhangjiang High-Tech Park and establish a new fund on integrated circuit, software and Internet finance services. Founded in 1989, CEC has 13 listed firms, is one of the biggest state-owned electronic groups in China and appears in the Fortune 500 list.
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