ZTE to Invest 5 Bln RMB in New Facility in Tianjin, China
November 10, 2006
According to Sina.com, Chinese ZTE has recently signed an investment agreement with the Tianjin government, whereby ZTE will build a new facility in Tianjin with a long-term investment of five billion RMB (US$632.9 million; US$1 = 7.9 RMB). The company stated that this new facility will engage in production, R&D, and sales services, and mainly focus on WiMAX and 3G mobile phone development.