China to build three national-level innovation centres in graphene, VR and ultra-HD video, related share surged

 

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Chinese companies in the graphene, virtual reality and ultra-high-definition video industries surged on Monday, following the government’s announcement to build three national-level manufacturing innovation centers related to the three sectors.

The main entity responsible for building the innovation center for the VR industry will be a company in which Ofilm owns a 20% stake, reported mainland news outlet The 21st Century Business Herald on Monday, citing Oflim’s investor relation department.

With support from the Nanchang Virtual Reality Institute, a national VR innovation center will be built in Nanchang, Jiangxi province, the Ministry of Industry and Information Technology said in a statement.

The center will carry out key technology research and development, testing, and verification while offering technical services as well as talent training and international cooperation, the statement said.

A national graphene innovation center will be built in Ningbo, East China’s Zhejiang province, relying on a firm called Ningbo Graphene Innovation Center, the MIIT said, adding that a national UHD video innovation center will be set up with the backing of a Chengdu, Sichuan province-based startup.

Deluxe Family, a Shanghai-based property and scientific and technological industry investment company, also rose by the daily limit of 10% on Monday, as it holds about 1% stake in Ningbo Graphene Innovation Center, the news outlet said.

Business registration data showed television maker Sichuan Changhong Electric is the Chengdu-based startup’s fourth largest shareholder and set top box maker Sichuan Jiuzhou Electronic is its sixth biggest shareholder. Changhong shares gained 1.9% in Shanghai, while Jiuzhou’s share rose by 1.7%.

The industry ministry will work with local authorities to push for the construction of the three innovation centers, strengthening technological innovation ability and providing support for the development of key areas of the manufacturing industry, it added.