The Shenzhen CATIC (China Aviation Technology Import-Export Corporation) Group and Wuhan East Lake High-tech Development Zone signed an agreement on April 25 to jointly invest 3.0 billion RMB (US$429 million; US$1= 7.0 RMB) in a 4.5G TFT-LCD (Thin Film Transistor Liquid Crystal Display) production line at the development zone, Chinese-language Sina News reported.

It is projected that overall there will be a 4.5G a-Si (amorphous-Silicon) TFT-LCD line, a 4.5G color filter line, a full system assembly line, as well as a backlight module line, to be constructed in phases. CATIC expects to start first-phase construction within 2008 and begin production by year-end 2009. Production capacity is projected to reach approximately 49.7 million TFT-LCD panels per year, with annual revenue estimated at about 4.0 RMB (US$572 million).