IBM Corp has formed a joint venture in the Shenzhen Science & Industry Park in China to do Smart Card development, assembly, testing and consulting. The venture, Shenzhen GKI Electronics Co Ltd, will be 60% held by IBM, 25% by China Great Wall Computer Group and 15% by Kaifa Technology (Hong Kong) Ltd. It is capitalised at $9m and $13m has been invested so far, IBM noted. The firm will also design and manufacture other electronic equipment under contract.
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