The newly established Intel Integrated Circuit (Hainan) Co, will carry out international trade, technology services, and equity investment activities, aiming to create a new business entity in China as well as Intel Capital’s business headquarters in China, the company said in a statement sent to the Global Times.
The wholly owned unit that US chipmaker Intel set up in Hainan’s tropical tax-free tourist destination of Sanya has officially kicked off operations.
Intel Integrated Circuit Hainan started up on April 8, according to the Hainan provincial government’s website. Intel China set up the unit last December with a registered capital of USD35 million, according to corporate information platform Tianyancha.
The unit offers Chinese clients cross-border software and hardware services, including distribution and settlement, software design and licensing, system integration, talent training, and equity investment.
The Hainan government believes that Intel landing in the province will attract more industry leaders and promote the industrial integration and development of its zero tariff free trade port.
Intel entered China over 38 years ago and established Intel China in Shanghai in 1994. It has units in Beijing, Dalian, Chengdu, and Xi’an. Intel has invested USD13 billion and hired 12,000 staff in the country.
In 2022, Intel China accounted for 27 percent of Intel’s total revenue, as China became the company’s largest regional market outside of the United States for investment and comprehensive organizational structure.
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