With the help of the Shenzhen Economic and Trade Commission, CSOT (China Star Optoelectronics Technology), a TCL display subsidiary, has signed a joint investment agreement with Samsung to build a new 11th generation (Gen 11) LCD (Liquid Crystal Display) factory in Shenzhen for 21.5 billion RMB (US$3.2 billion; US$1 = 6.67 RMB), according to TCL's press release on September 12. Samsung will invest 2.1 billion RMB (US$31.5 million) for a 9.8% stake in the new joint venture, while CSOT and the Shenzhen government will hold 53% and 37.2%, respectively. The production line will begin construction in December this year, and is slated for volume production of 43", 65", 70", and 75" LCD panels in July 2019. CSOT currently runs two Gen 8.5 production lines in Shenzhen for 32" and 55" TV panels.