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Towngas signs RISC-V chip deal and China Mobile announces capital and innovation outpost in boost for Hong Kong’s tech sector

  • Towngas, chip maker StarFive Technology and xFusion Digital Technologies to launch a semiconductor R&D lab in Hong Kong
  • China Mobile to set up corporate treasury centre and innovation research institute in the city

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Hong Kong and China Gas is teaming up with chip maker StarFive Technology and xFusion Digital Technologies to promote chip making in the city. Photo: Jonathan Wong
Mia Castagnone

Hong Kong’s ambitions of establishing itself as a global technology and research hub received a shot in the arm on Friday after two companies announced expansion and investment plans for the city.

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While Hong Kong and China Gas (Towngas) is teaming up with Baidu-backed chip maker StarFive Technology and xFusion Digital Technologies to launch a semiconductor research-and-development lab to promote chip making in the city, China Mobile said it will set up a corporate treasury centre (CTC) and an innovation research institute to manage the capital of the world’s largest cellular network operator from the city.

The two projects answer efforts by the Hong Kong government to promote investments in the city’s technology sector.

“[The government] is committed to developing Hong Kong as a global innovation and technology hub, with an emphasis on promoting cooperation between the government and the industry, academic and research sectors,” Financial Secretary Paul Chan Mo-po said in a statement welcoming China Mobile’s CTC and research institute.

Towngas’s deal comes amid hopes that China can reduce its dependence on foreign intellectual property suppliers during an escalating technology war with the United States.
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StarFive will collaborate with xFusion on the development and industrialisation of a RISC-V chip, nicknamed the “Lion Rock Chip”, which will be tailored for data centre environments and will be integrated into xFusion’s intelligent computing products, enhancing their service capabilities. XFusion will, in turn, strengthen Towngas’s capabilities in cloud computing, memory computing and other areas, as part of efforts to bolster its competitive edge.

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