Chinese smartphone maker Xiaomi and security software provider Kingsoft jointly announced that the two companies will invest to build a technology industrial park in the Haidian district of Beijing to establish a mobile Internet ecosystem.

In the future, Xiaomi and Kingsoft will both locate their headquarters in this industrial park.

Lei Jun, who is founder of Xiaomi and chairman of Kingsoft, said that the reason for choosing Haidian district is because it is the best choice for technical innovation in China. In Zhongguancun, an outstanding innovative enterprise has the opportunity to grow into a huge star enterprise.

Upon completion of the industrial park, it will create an innovative chain of mobile Internet enterprise coordination, improve overall running efficiency, and promote the development of the mobile Internet industry. Meanwhile, with the development and operation of the industrial park, it is expected to stimulate the growth of related industries.

The industrial park will establish a business platform for enterprises in the future and companies will hopefully contribute substantial operating revenue and taxes to the local economy. The industrial park is reportedly expected to achieve sales of over CNY100 billion, which will enhance the technical innovation ability of Haidian and Beijing.