Intel is launching a $100 million (£60 million, AU$110 million) fund aimed at strengthening ties with Chinese manufacturers and ensuring that its chips will be prominent in the country's future device development.

In a statement, Intel CEO Brian Krzanich said that through Intel's new "Capital China Smart Device Innovation Fund" the industry landscape in China will undergo rapid transformation. Intel, he said, can re-ignite growth in the Shenzhen technology ecosystem.

As part of the fund, a research and development center will be built in the South China-based city, focusing on wearables, web-connected devices, the Internet of Things, hybrids and mobile tech. The center will, according to Krzanich, act as a bridge between product conception and commercial deployment.

"Intel does it best"

A team from the centre will work with local businesses and promote the use of Intel products and chips, including the Edison research platform and Gateway Solutions for the Internet of Things.

"The China technology ecosystem will be instrumental in the transformation of computing," said Krzanich. "To help drive global innovation, Intel will stay focused on delivering leadership products and technologies that not only allow our partners to rapidly innovate, but also deliver on the promise that 'if it computes, it does it best with Intel.'"

Since 1998 Intel has invested more than $670 million (£402 million, AU$724 million) in China, spread over 110 companies and two investment funds.