Abstract: A multi-layer printed circuit board comprises: a core comprising a core insulation layer and traces formed on two sides of the core insulation layer; a plurality of insulation layers sequentially formed at two sides of the core; and a plurality of trace layers respectively formed between two insulation layers and on the outmost insulation layers; wherein the core insulation layer contains a resin material different from that of the insulation layers, such that the core insulation layer has a warpage characteristic lower than that of the insulation layers.