Lishui Economic and Technological Development Zone in East China's Zhejiang province established an electronic materials research institute recently, which was a solid step forward by the zone toward the goal of building a chip industry cluster.

The research institute plans to invest one billion yuan ($141 million) in building a production base for ultra-high purity electronic materials. Phase I with investment of 300 million yuan includes a project to produce 300 tons of ultra-high purity metal sputtering target material annually. After the completion of the project, it is expected to realize an output value of 750 million yuan annually. By then, Lishui Economic and Technological Development Zone will have become China's largest world-class ultra-high purity electronic material production base, as well as an important processing base for China's strategic metal reserves.