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A joint venture of Fuzhou city government, Fujian Fushun Microelectronics, Fujian Investment & Development Group and Fujian Electronics & Information Group will build an 8-inch IC chip production line in Fuzhou's Biomedical and Electromechanical Industrial Park. Phase 1 investment is CNY 1 billion, with annual capacity of 240,000 8-inch wafers. Construction starts September 2016, first line to be operational in 2 years.