TIANJIN, July 12 -- Chinese tech company Dawning Information Industry has begun developing a new generation supercomputer that is capable of over a hundred thousand trillion computing operations per second, said Li Jun, the company's president.

But he denied reports that the dawning 7000, designed to better meet market demands for high-speed communication networks, large-scale storage and application software, will be launched within two years.

Previous reports said the supercomputer had entered the phases of trial production and assembling, and would meet the public in two years. Li denied such speculations.

"Dawning 7000 is not an all-purpose machine. It serves as a mainframe tailored for certain application. So the development cycle is very long," Li said.

Backed by the Chinese Academy of Sciences, Dawning is also the developer of Nebulae or Dawning 6000, which ranked the second in the TOP500 list of the world's most powerful supercomputers in 2010 for its measured Linpack value of 1.271 petaflop times a second.