As per the latest update from China Guangzhou Release, on February 5, the Baiyun District Government of Guangzhou entered into a significant investment agreement with STI Corporation, a renowned South Korean semiconductor equipment manufacturer, at the Guangzhou Municipal Government premises. Under this agreement, STI Corporation is set to invest around 12.4 billion yuan in establishing a power semiconductor manufacturing hub within Baiyun District, specifically situated in the Guangzhou Private Technology Park.

The initial phase of this ambitious project will see an investment of roughly 1.6 billion yuan, focusing predominantly on the production of AMB ceramic substrates. Construction activities are slated to kick off post-Spring Festival, with the anticipation of commencing production by the year's end. The projected annual output value for this phase stands at approximately 3 billion yuan. Looking ahead, subsequent phases of the project will encompass the development of factories dedicated to third-generation power semiconductor devices and automotive-grade chips, in strict adherence to national guidelines and industrial policies. The overarching goal is to foster the creation of a robust and comprehensive industrial ecosystem.