A Sino-Japanese joint venture worth RMB 1.5 billion is a huge investment in this era. It requires approval from the Ministry of Foreign Affairs of Japan and the Ministry of Foreign Trade and Economic Cooperation of China. It can only be registered with the consent of the State Administration for Industry and Commerce in Beijing. It can be registered at the tax department or at the State Administration of Foreign Exchange. For foreign exchange registration, go to the designated bank to open a basic account...
Last year, the national fiscal revenue was only 293.7 billion yuan, Shanghai's fiscal revenue was 28.436 billion yuan, Jiangcheng's fiscal revenue was only 2.947 billion yuan, and Pengcheng's fiscal revenue was only 293.7 billion yuan. The fiscal revenue is only 2.17 billion yuan.
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"Chairman Sun, the company headquarters has agreed. The company has fully entrusted me and Mr. Watanabe Yokoyama to discuss with Chairman Sun the establishment of a joint venture with Dawn Toshiba Wafer Company. This is the company's entrustment document."
A week later, Taro Nakamura, Deputy General Manager Yokoyama Watanabe of Toshiba Semiconductor Equipment Corporation, and Keigo Yokoyama, Legal Counsel of Toshiba Corporation, came to the company headquarters.
Taro Nakamura has been appointed general manager of Toshiba's China office, responsible for handling Toshiba's corporate affairs in China.
"I have been dealing with Mr. Nakamura for more than a day or two, and it is a pleasure to cooperate! The two parties have set the general direction of the joint venture and left the process to professionals."
The joint venture agreements, contracts, and articles of association signed by Sino-foreign joint ventures shall be submitted to the national foreign economic and trade department for review and approval. The review and approval authority shall decide whether to approve or disapprove within three months. After approval, the joint venture shall register with the national industrial and commercial administration department, obtain a business license, and start business.
When Jiangcheng Kundong Technology Co., Ltd. was established in 1988, Zhong Guohua, the director of the legal department of the company, drafted the legal documents for participating in the joint venture on behalf of Jiangcheng Kunpeng Software Company. The amount of this joint venture reached 1.5 billion yuan. To be cautious, Sun Jian this time They also called Li Guocai and Sun Linjing from Xiangjiang to assist Zhong Guohua in drafting the legal documents for Shanghai Shuguang Communication Technology Company to participate in the joint venture.
Company executives such as Li Tao, Liu Fang, Yang Changxia and Zhang Bin are worried that the black market price of US$110 million is equivalent to 920 million yuan. Sun always has a way to solve it, but once invested, the company's liquidity will be almost exhausted.
Only Li Guocai and Sun Linjing knew that Mr. Sun's original purpose of establishing Xiangjiang Shuguang Trading and Investment Company was to one day establish a semiconductor production company. An investment of US$110 million would not have any impact on Xiangjiang Shuguang Investment Company.
On November 30 last year, Mr. Sun invested US$50 million to be long on the March Nikkei stock index futures contract, increasing the leverage by ten times, and has now made more than US$80 million in profits.
Mr. Sun didn't want to expose his strength.
Through negotiations between the two parties, Shanghai Twilight Communication Technology Co., Ltd. and Japan's Toshiba Semiconductor Equipment Company jointly established Twilight Toshiba FAB Co., Ltd. (TTFAB for short) with a 15-year joint venture period and a registered capital of 1.5 billion yuan.
Shanghai Shuguang Communication Technology Co., Ltd. invested RMB 840 million in shares, accounting for 51%. Toshiba Semiconductor Corporation invested RMB 560 million in six-inch wafers and 1um process technology, accounting for 49% of the shares.
TTFAB will invest 1.32 billion yuan to purchase a semiconductor production line with six-inch wafers and 1um process technology produced by Toshiba Semiconductor Company, and 80 million yuan will be used to purchase production land, build factories, supporting facilities, employee training and mobility funds.
Business scope: OEM production of chips for domestic and foreign customers.
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"Mr. Z, this is the joint venture agreement, contract and articles of association signed by Shanghai Shuguang Communication Technology Company and Toshiba Semiconductor Equipment Company to establish TTFAB."
After receiving the application submitted by Li Tao for "Shanghai Dawn Communication Technology Co., Ltd. and Japan's Toshiba Semiconductor Equipment Corporation to jointly establish Dawn Toshiba Wafer Co., Ltd.", Minister Sun of the Ministry of Foreign Trade saw the investment amount of 1.5 billion yuan and immediately reported it to Leader Li Call and report.
Leader Li happily ran to the Ministry of Foreign Trade.
Due to national financial constraints, from the late 1980s to the present, the total fixed asset investment in the national integrated circuit industry has been only 1.5 billion yuan, less than 300 million US dollars, and now lags far behind South Korea and Baodao.
Forty-eight integrated circuit factories, accessories factories and ten integrated circuit special equipment factories in China, except Huajing Company, owed a total of more than 900 million yuan in bank loans by the end of 1989. They were struggling to make profits and had no funds to continue to introduce new semiconductor production lines and advanced equipment. Chip manufacturing technology.
Shanghai Shuguang Communication Technology Co., Ltd. is the first private enterprise in China to invest in semiconductor production lines.
"Sun Jian is an extraordinary young man. He has solved the problem of computer operating systems being controlled by others for the country. Now he plans to contribute to the development of the country's integrated circuit industry. He does not need state investment yet and should be strongly supported! Minister Sun should immediately organize relevant personnel. Start reviewing the joint venture agreement, contract and articles of association of TTFAB, and strictly follow the system. If there are no problems, we should approve it as soon as possible."
"Okay, Manager."
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"Mr. Sun, on behalf of the Zhongguancun New Technology Park Management Committee, I invite TTFAB to enter the pilot area."
The tower near the water gets the moon first.
The day after the application report for establishing TTFAB was sent to the national foreign economic and trade administration department, Lu Yuncheng, director of the Zhongguancun New Technology Park Management Committee and deputy mayor, called.
"Thank you, Vice Mayor Lu. I'm sorry this time. TTFAB's investment intention is either Shanghai or Jiangcheng."
"Mr. Sun, let's work together next time!"
Lu Yuncheng also understands that the first place for TTFAB is the Caohejing New Technology Park, where a number of chip R&D, production, packaging and testing companies such as Shanghai Belling Company and Shanghai Philips Semiconductor Company are concentrated.
There are also Huajing Company in Xicheng and Huayue Company in Yuezhou nearby.
Huayue Company is the 871 branch of Gansu Province 871 Factory established in Yuezhou. It was renamed Huayue Company and successively introduced second-hand three-inch and four-inch wafer production lines from Japan.
Jingchengdong Optoelectronics Factory (Factory 878) once had great success. It introduced a three-inch wafer production line and was known as the "Northern Hegemon" and "Southern Hegemon" in domestic chip production together with Shanghai-Hai Radio Factory 19. In recent years, due to the lack of funds, Due to insufficient investment, the Jingchengdong Optoelectronics Factory is now in decline.
In October 1988, Shanghai Radio Factory 19 and Philips jointly established Shanghai Philips Semiconductor Company, investing more than US$82 million to introduce the country's first semiconductor production line with five-inch wafers and 2um process technology. Already put into production.
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"Mr. Sun, on behalf of the municipal government, I invite TTFAB to enter the East Lake High-tech Park and promise to provide 500 acres of land at half of the paid land use fee."
Mayor Huang and Director Liu came to the door in person, feeling anxious.
Guo Huaizhong already served as deputy mayor and director of the Science and Technology Committee of Jiangcheng City last year, and Liu Jiemin took over as director of the East Lake High-tech Park Management Committee.
On March 6, the State Council issued the "Notice on the Approval of National High-tech Industrial Development Zones and Relevant Policies and Regulations", deciding to approve 21 more high-tech zones including the East Lake High-tech Park following the approval of the Beijing New Technology Industrial Development Pilot Zone in 1988. The industrial development zone is a national high-tech industrial development zone.
Last year, Jiangcheng's economic development was affected by the comprehensive economic management and rectification policy and slowed down significantly. The number of loss-making enterprises increased and the amount of losses increased. The fiscal revenue was only 2.947 billion yuan, a decrease of 5.4% for the first time. , the market is down, and local economic development needs to be stimulated through investment.
