Chinese Xianyang Pianzhuan has invested 1.8 million RMB (US$225,000; US$1 = 8 RMB) in setting up a LCD component joint venture with POMP and other partners in Shaanxi province. The new company - Shaanxi Jieying - will be devoted to the production of PCBs for driver ICs, and TV controller boards. In the initial phase, Shaanxi Jieying is expected to manufacture two million units of PCBs for driver ICs per year, with a gross output value of 171 million RMB (US$21.4 million). The venture plans to start test production in July 2006.