BEIJING (PingWest) — Chinese smartphone vendor Xiaomi signed a partnership agreement with Shenzhen municipal government to set up a global head quarter in Shenzhen.
The smartphone maker planned to invest RMB7.76 billion in its headquarter in Shenzhen Bay Super Headquarters Base in the southern coastal area of Shenzhen. The global headquarter will consist of smart phone and artificial intelligence center, business development center, and Internet service center to further promote its global market.
The agreement was signed by Xiaomi at Shenzhen Investment Fair on December 18, 2019, and was among 128 projects in total signed by world company giants with Shenzhen Commerce Bureau.
Alibaba, Bytedance, and other business behemoths around the world had or plan to set up headquarters in the headquarter base.
Xiaomi has set up several local headquarters across China, including Beijing Xiaomi Tech Park, East China headquarter in Nanjing, and Wuhan headquarter.
Wang Xiang, President and Acting CFO at Xiaomi, said that Shenzhen is close to Hong Kong, which convenient for exportation and where has lots of world-top entrepreneurs and engineers. Additionally, Shenzhen is the pilot place for telecommunications that Apple set up R&D base, and Huawei and Oppo smartphone makers set up companies in Shenzhen. The aggregation of the smartphone sector would promote the development of hardware and products.