According to reports in Chinese local media, Xiaomi recently purchased a commercial site for CNY531 million.

The site is located in the central area of Houhai in Nanshan, next to China Resources Shenzhen Bay Ruifu and China Resources Tower. Alibaba, Toutiao and Tencent all have projects in the neighborhood.

It is said that the transferred site includes a 28,700-square-meter office area, a 2,200-square-meter commercial area, a 1,400-square-meter canteen and 100 square meters of property management rooms. Xiaomi will reportedly set up its international headquarters here and build an international headquarters building.

Xiaomi Group's international headquarters will mainly include three major sectors: smartphone and artificial intelligence center, business development center and Internet service center, aiming to expand the international market. To build this international headquarters, Xiaomi Group is expected to invest CNY7.76 billion in Shenzhen.