Lenovo Group plans to invest 10 billion yuan ($157.7 million) for building its science and technology park in Kunming.
The District Government of Wuhua has signed a framework agreement with Raycom Real Estate Development Co Ltd,a wholly owned subsidiary of Lenovo Group.
Located at Pan-Asian new town of Wuhua District in Kunming, the park covers about 750 mu or 50 hectares, with a building area of 1.5 million square meters.
The plans are divided into three stages: building high-tech industry cluster, financial & business services cluster, and smart home & hotel cluster.
The high-tech industry cluster mainly includes the Lenovo Headquarters Base, the Cloud Computing Industrial Center and a service center for startup business.
The financial & business services cluster includes the Financial Technology Center, the IOT-Based (Internet of things) Shopping Mall and the experiential 3G Plaza.
The smart home & hotel cluster includes residential areas and a five-star hotel with many intelligent technologies.
Yu Bing (俞兵), senior vice-president of Lenovo, said that the future of Kunming will be a core area, which means the city is becoming transport hub connecting South-East Asia and South Asia. He believes that it will be a good return on their investment for investing in Kunming. (Editor: Ryan Li)