Semiconductor Manufacturing International Co. (SMIC, SMI.NYSE; 00981.HK), China's largest contract chip maker, said on Wednesday that it would establish a subsidiary in Shanghai that would operate as its regional headquarters.
The new subsidiary will perform the management function in the Chinese mainland market for SMIC. Gao Yonggang, chief financial officer and vice president of the company, said the Shanghai unit will promote the development of the company and China's integrated circuit (IC) industry.
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