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Huizhou draws 5G and robotics investments of US$714 million as it seeks to upgrade role in Greater Bay Area
- Shenzhen Sinlikon Supply Chain Management will develop an industrial estate for 5G technology and services
- Hit Robot Group will set up research institutes and advanced labs
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Huizhou, the second closest mainland city to Hong Kong, has taken a significant step forward in upgrading its industrial mix after securing two hi-tech projects with a combined investment of 5 billion yuan (US$714 million).
The city has signed an agreement with Shenzhen Sinlikon Supply Chain Management to develop an industrial estate that will specialise in 5G telecommunication technology, according to Xinhua.
It has also succeeded in drawing China’s leading robotics firm, Hit Robot Group, to set up a research and development centre.
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Each project will entail an investment of 2.5 billion yuan.
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“Huizhou is apparently moving into hi-tech areas to better integrate itself into the Greater Bay Area development,” said Cao Hua, a partner at private equity firm Unity Asset Management. “More such investment deals will be seen in the future as the city looks to keep pace with other cities in the GBA.”
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