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Chinese smartphone maker Xiaomi Corp will build an industrial park in partnership with Kingsoft, a popular domestic software provider, at Zhongguancun Science Park, Beijing’s Haidian district, according to a joint announcement on March 27.
Lei Jun, CEO and co-founder of Xiaomi, signed a land agreement with the district government. He is also president of Kingsoft Corp Ltd.
Xiaomi Park has a planned area of 220,000 square meters. After completion, the park will be home to Xiaomi’s headquarters and its innovative teams, as well as Kingsoft’s headquarters.
With the two enterprises at the new park, industries related to their business will see more opportunities there. Its sales volume is expected to reach more than 100 billion yuan ($16.1 billion).
Zhongguancun has a large number of professionals, and Xiaomi gathered many elites from large multinational firms, such as Google, Microsoft and Motorola, during its startup. It also offers a range of preferential investment policies for companies to encourage innovation, and Xiaomi is among the beneficiaries, Lei said.
