(Yicai Global) July 2 -- Chinese boat-builder Yaguang Technology Group will partner with a national industrial research center to set up a chip lab in a bid to make the country self-supplied in the semiconductor front.

Yaguang Tech and the China Center for Information Industry Development will jointly build the lab, which will conduct research and development in featured technologies and materials for semiconductor chips, as well as eventually for fifth-generation chips, the Hunan province-based yacht-maker said in a statement.

The initial capital is CNY1 billion (USD150 million) and some of the other investors include Saipu Xingtong, Hunan Jiuhua Private Equity, local governments and national special funds.

The CCID will lead the operations, while Yaguang will collaborate with universities, research institutes, as well as upstream and downstream companies for the benefit of the lab.

Editor: Emmi Laine