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CEC agrees to set up IT headquarters in Pudong
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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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