[Photo/IC]

Pudong New Area of Shanghai is building itself into a world-class manufacturing cluster with the addition of JLQ Technology, a renowned integrated circuit (IC) design company, which recently announced that it would set up operations in the Shanghai Integrated Circuit (IC) Design Industrial Park.

With a registered capital of 2.98 billion yuan ($434 million), the company was established by US chip giant Qualcomm Inc, state-owned telecom company Datang Telecom Technology Co Ltd, and two local investment groups in 2017, focusing on chip designs for the smartphone market.

The company's independently-developed SoC chip project was included in the country's second batch of major foreign investment projects.

Shanghai has the most developed IC industry in the country, and Zhangjiang is the largest chip manufacturing base in Shanghai, said Li Bin, chairman of JLQ Technology, adding that he hopes the company can develop into a competitive firm and contribute to the industrial ecosystem of Zhangjiang.

The company is expected to launch related chip products by the end of this year, while at the same time tapping into the research and integration of 5G technologies, artificial intelligence (AI) and internet of things.

Shanghai Integrated Circuit (IC) Design Industrial Park, covering an area of three square kilometers, was unveiled last year. Several companies, including Tsinghua Unigroup, Alibaba group and Will Semiconductor Co Shanghai, have already set up operations in the park.

He Dajun, vice president of Shanghai Zhangjiang Hi-Tech Park, said the new park, the only of its kind in Shanghai, will strive to attract 1,000 leading enterprises and 100,000 talents with a focus on AI, 5G technology, internet of things, industrial control, automotive electronics and other key applications.