Yulong Wins RMB 3 Mln Shenzhen Government Subsidy
Netease Tech, 12/30/08
The Shenzhen Futian District government recently released a list of enterprises that received Futian District economic development fund subsidies in 2008. Of the over 600 enterprises from various industries that received funds, an amount of RMB 3 mln was granted to Chinese mobile phone manufacturer Yulong, while funds of varying sizes were granted to other telecom enterprises including Chinese telecom equipment manufacturer ZTE (0763.HK; 000063.SZ) and Chinese mobile handset manufacturer Gionee.
Li Wang, executive vice president of Yulong, stated that the company's annual research and development investments came to 10% - 15% of company sales revenue, with investment in TD-SCDMA research and development reaching several hundred million RMB. Li added that the RMB 3 mln subsidy was all put towards research and development.
Keywords: government subsidy 000063.SZ 0763.HK Gionee Li Wang Shenzhen TD-SCDMA wireless Yulong ZTE mobile phone vendor R&D
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