Xiaomi to Invest USD3.5 Billion to Build Central Headquarters in Wuhan

Xiaomi to Invest USD3.5 Billion to Build Central Headquarters in Wuhan

Zhang Xia

Date: Mon, 10/16/2017 - 16:01 / source:Yicai
Xiaomi to Invest USD3.5 Billion to Build Central Headquarters in Wuhan
Xiaomi to Invest USD3.5 Billion to Build Central Headquarters in Wuhan

(Yicai Global) Oct. 16 -- Chinese smartphone maker Beijing Xiaomi Technology Co. will invest CNY23 billion (USD3.48 billion) over the coming years to construct a new regional headquarters in Wuhan, capital of China’s central Hubei province, Lei Jun, chief executive, said at a recent supplier conference in the city.

The development of Wuhan, and of Hubei province as a whole, is set to benefit from industrial transfer related to the growth of intelligent manufacturing thanks to its location, he said.

Once Xiaomi settles in Wuhan, hundreds of companies related to its industrial chain and other businesses are also likely to set up facilities in order to bolster research and development efforts related to future applications of artificial intelligence technology.

The firm will also look to expand its number of offline stores so that each county or city is home to at least one Xiaomi shop.

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Keywords: Xiaomi, Wuhan, AI, Industrial Chain