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Shenzhen Government Offers Subsidies for Handset MakersSHENZHEN, Dec 30, 2008 (SinoCast Daily Business Beat via COMTEX) -- The government of Futian District, Shenzhen, south China, will support companies in the telecommunications industry by offering subsidies for R&D investment, intellectual property rights, and key projects. The move aims to ensure industry upgrade, strengthen regional core competitiveness, and build Shenzhen into the country's capital for mobile phone R&D, design, as well as distribution. Companies, including Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. and ZTE Corporation (SZSE: 000063 and SEHK: 0763) gain such capital support. The money will be used for product research and development, said Li Wang, the executive vice president of Yulong Computer Telecommunication Scientific. The company's annual R&D expenses take up 10%-15% of its sales revenues, noted the executive vice president, adding that Yulong Computer Telecommunication Scientific has made a large investment in the TD-SCDMA sector and grown into a major force in the dual-mode and smart mobile phone fields. Source: www.163.com (December 30, 2008) |