TCL Corp., a Chinese electronics company, intends to invest about 35 billion Chinese yuan in a facility for display panel production, Reuters reported March 31, citing a Shenzhen Stock Exchange filing.
The plan is reportedly fueled by growing local demand for smartphones and tablets.
Guangdong-based TCL is eyeing the central city of Wuhan for the plant, according to the report.
The company is awaiting government approval.
As of March 31, US$1 is equivalent to 6.89 Chinese yuan.