THE headquarters of China Electronics Corp. Group (CEC) officially moved from Beijing to Shenzhen on Saturday morning, Shenzhen Economic Daily reported.

CEC is a State-owned company specializing in network security and possesses computer CPU and operating system core technologies, according to the group’s official website.

As of the end of 2020, the group had 26 subsidiaries and 15 listed companies, with annual revenue of some 247.92 billion yuan (US$38.93 billion), making the Fortune 500 list for 11 consecutive years.

At an inauguration ceremony Saturday, Hao Peng, Party chief of the State-owned Assets Supervision and Administration Commission of the State Council, called on CEC to realize self-reliance and self-improvement in the network security and information technology industry and build itself into a top-notch enterprise with global competitiveness.

Hao said that CEC must allow technological innovation to play a key and crucial role and accelerate building an independent and controllable industrial and supply chain in the network security and information technology industry.

Hao stressed the importance for CEC to integrate into regional development and deepen cooperation with Guangdong Province and Shenzhen, contributing to facilitating common prosperity for everyone.

Shenzhen Party chief Wang Weizhong, who was appointed Party chief of the Guangdong Provincial Government on Saturday, congratulated CEC at Saturday’s event, saying that “CEC’s relocation to Shenzhen will be a strong driving force for the development of globally influential technological and industrial innovation centers in the Guangdong-Hong Kong-Macao Greater Bay Area, Guangdong and Shenzhen.”

CEC set up Shenzhen Kaifa Technology Corp. for electronic product R&D and manufacturing in 1985 and has cultivated a large number of talents for the city. In 2020, the group founded a network security operation platform, China Electronics Co. Ltd., in Shenzhen, with over 100 billion yuan in assets and revenue, respectively.

Shenzhen is home to international tech giants such as Huawei, ZTE and Tencent. It ranks first in China with 21 firms listed in the national top 100 companies in the electronics industry.

Statistics showed that the added value of the digital economy’s core industries accounted for 30.5 percent of the city’s GDP in 2020. (Xia Yuanjie)