The presence of important clients has enticed Intel to invest two billion RMB (US$241.7million; US$1=8.3 RMB) to build a communications industry base in Yantai, China. LG, First-Trust, and Langchao have already established the biggest CDMA mobile telephone industry cluster in the area. Major Chinese consumer electronics companies such as Haier and Hisense are also stationed in nearby Qingdao. Intel and the Fushan district government of Yantai have therefore teamed up to make plans for a two billion RMB investment. When this investment project is finished in 2008, there will be a one million square meter software park. This year a 10.000 square meter service center and a 100.000 square meter industrial base will be built on in the area. In the following two years the remaining space of the projected software park will be constructed.