BEIJING, Sept. 7, 2011 /PRNewswire via COMTEX/ -- Vimicro International Corporation /quotes/zigman/98642/quotes/nls/vimc VIMC -0.68% ("Vimicro" or the "Company"), a leading multimedia semiconductor and IP-based surveillance solution provider, today announced that the Company recently received an official visit from Mr. Wei Miao, the Minister of China's Ministry of Industry and Information Technology to promote and support the implementation of the SVAC standard.
On September 2, 2011, Minister Miao visited Vimicro's headquarters in Beijing, and Vimicro management provided the minister with a tour of the Company's facilities and gave a presentation on the Company's R&D activities, specially the development of the Surveillance Video and Audio Coding (SVAC) digital-surveillance standard.
After the presentation, Minister Miao expressed the need for accelerating the research, development, and commercialization of the SVAC standard. Minister Miao said, "I recently decided to pay a visit to Vimicro, a leading member of the SVAC alliance, to receive an update on the development of SVAC, the world's first security monitoring standard. We hope that the SVAC working group and alliance will incorporate contributions from other enterprises and resources to promote the entire security and surveillance industry value chain, from chipset and software development all the way to system integration. We will fully support SVAC implementation, from test sites to commercial trials and ultimately, all the way to large scale adoption on the national level and beyond."
Minister Miao continued, "The Ministry of Industry and Information Technology will continue to support Vimicro and promote the adoption of the SVAC standard. We will work to enhance communication and cooperation, and the Ministry of Public Security and the Standardization Administration of China (SAC) will promote the adoption and commercialization of the SVAC standard."
"We are pleased and honored by Minister Miao's visit, and we appreciate the government's support to Vimicro and its commitment to the adoption of the SVAC standard. We are proud to have been recognized as a leading provider of multimedia processors and surveillance solutions in China," commented Vimicro's Chairman and CEO, Dr. John Deng. "As the SVAC standard becomes more broadly adopted in China, we are well positioned to become a leader in the surveillance industry. We look forward to continuing to contribute to the advancement of the industry while increasing shareholder value."
Source:marketwatch