Hainan is an island province of China at the southern tip of the country. It is famous for its tropical climate, seaside resorts and mountainous forest-covered hinterland, but what does it have to do with Xiaomi? Between the municipal administration and Lei Jun's company he was from poco signed a cooperation agreement, according to which Xiaomi will collaborate with the administrative center of Haikou province and the city of Danzhou in financial technology, cloud computing, IoT (Internet of Things) and other areas.
"We hope that Xiaomi will study and streamline the policy of the free trade port of Hainan, accelerate the planning and construction of regional and international offices" is what the provincial secretary of the party committee, Liu Cigui, quotes. The hope is that the tech giant will actively participate in the economic life of the province and promote the development of related industries and businesses to an even higher level.
Xiaomi and the province of Hainan sign a cooperation agreement
Lei Jun, chairman of the board of directors and CEO of Xiaomi, underlined the great prospects for the region, emphasizing that "the company's development strategy coincides in many respects with the future direction of development of the free trade port of Hainan" .
Xiaomi, headquartered in Beijing, was founded in 2010. The company is engaged in the development of mobile applications, the production of smartphones, laptops, electronics, as well as home appliances, clothing and other goods. In 2018, the company held an IPO on the Hong Kong Stock Exchange. In short, we all know the successes of the brand, but this partnership marks a further piece in the puzzle of the successes scored by the Asian company.
On 1 June, the authorities presented a plan for the development of the free trade port. According to the plan, the Hainan province will be transformed into a special customs zone. The country's government generally intends to complete the creation of the free trade port on the island by 2025: by this date the island should have a system to guarantee free trade and investment. Hainan intends to guarantee the freedom of trade and investment, the cross-border movement of capital, people and shipments. Who knows what positive developments Xiaomi will bring?
