The telecoms equipment supplier China Putian Corp said it plans to build a Yn5bn industrial park in Shanghai in the next five years. The company's vice-president Bao Kangrong told China Daily that the 67-hectare park would become its national manufacturing base, covering products such as mobile communication equipment and multimedia-aided terminals. One of its first projects is expected to be a Yn500m factory to produce the Xiaolingtong, a wireless terminal with most of the functions of mobile phones for the same fee as a fixed-line phone. The project will be located in the Shanghai Comprehensive Industrial Development Zone, located in southwest Shanghai.
For the past two years, Putian has been ranked as China's largest telecoms equipment supplier, with 2001 revenues of Yn64.2bn. Formerly part of the old Ministry of Post and Telecommunications, Putian is now directly controlled by the central government.