Huawei's massive R&D complex in Shanghai has finally been built – meant to give the US-sanctioned Chinese tech giant a boost when it comes to competing with international rivals.
Huawei will invest RMB 40 billion to build an R&D center in Shanghai and become a neighbor of SMIC.
Officially named the Huawei Lianqui Lake R&D Center, the Shanghai Qingpu government says the complex cost more than 10 billion yen (or about $1.4 billion) to build. The high budget for the project was thanks to the complex's footprint of 1.6 million square meters, which the tech giant deemed necessary to include "a square city, urban blocks, settlements on hills, a forest city, university campus, urban axis [sic], and a water city ."
Shanghai's Qingpu district is home to more than a million people, a tiny fraction of the larger city's nearly 30 million residents.
Qingpu's local government says the Lianqui Lake R&D center "will become a core node of Huawei's global R&D network, attracting top talent, nurturing cutting-edge technologies and helping Huawei achieve greater breakthroughs in key technology areas such as 5G, cloud computing and artificial intelligence, contributing to the development of the global technology industry."
