Zing Semiconductor recently announced that its 12-inch wafers have been certified by  Shanghai Huahong Group, the Tech News reported on July 26. The company stated that by the end of 2018, it will be able to produce 100,000 wafers per month and, ultimately, reach 600,000 wafers. Founded in 2014, Zing Semiconductor is a joint venture set up by Shanghai Sinyang and The National Silicon Industry Group. The company focuses mainly on R&D and manufacturing of silicon wafers. On top of that, Zing Semiconductor has also undertaken one of China's national projects which is worth approximately 6.8 billion RMB (USD1 billion; USD 1= 6.74 RMB) and is slated to produce 300mm (12-inch) wafers using 40-28 nm process technologies. The investment during the Phase 1 is about 2.3 billion RMB (USD341.2 million) and it will have a monthly capacity of 150,000 12-inch wafers. Upon completion, it will be able to produce 600,000 12-inch wafers per month with an annual market value of 6 billion RMB (USD 890.2 million). According to the SEMI Global Semiconductor Association, 10 out of 19 newly constructed fabs between 2016 and 2017 are based in China. In addition, there will be an additional 26 new fabs in China ready for mass production from 2017 to 2020.