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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (35563)	6/27/2000 10:32:00 AM
From: Jeffrey D	Respond to of 70976

New fabs for mainland China. Jeff << SOUTH CHINA MORNING POST: RED CHIP CONSIDERS ITS FUTURE IN HI-TECH 96% match; The South China Morning Post - Hong Kong ; 27-Jun-2000 12:00:00 am ; 244 words BY METALS WINSTON YAU Red-chip Onfem Holdings may help build the mainland's first semiconductor factory as part of its effort to diversify into high-technology. The facility would cost an estimated one billion yuan (about HK$936.4 million) to be financed by the government and Onfem. After yesterday's annual general meeting president Cui Guisheng said the non-ferrous metals trader would make a decision on the factory - one of two planned by Beijing - in September. Beijing planned to build the two large-scale semiconductor factories to meet domestic demand, which presently has to be entirely satisfied by imports. The country consumed 700 tonnes of semiconductors last year. Mr Cui said mainland demand was expected to grow as an increasing number of Taiwanese computer manufacturers were moving to the country to reduce their production costs. Meanwhile, Onfem plans to strengthen its core business by later this year launching an online transaction platform for the non-ferrous metal industry. Onfem had formed an alliance with the mainland's 20 major non-ferrous metal producers in order to carry out business-to-business online trade in raw materials, production equipment and non-ferrous metals. Onfem intends to spend about 23 million yuan to partially finance the online project and take about 51 per cent equity interest in it. The state-owned non-ferrous metal trader made the move after another SAR-listed metal trader Wellnet Holdings launched an online metal platform in March with China Minmetals Group, a unit belonging to the Ministry of Foreign Trade and Economic Co-operation. Mr Cui said the online operation would develop non-ferrous-metal futures trade later. The turnover in the mainland's non-ferrous metal trade last year totalled about 179 billion yuan, he said.