Taiwanese firm Hon Hai Group will reportedly take a 21.5-percent share in the Global Big Data Exchange (GBDEx), the first big data exchange operation in China, Taipei Times reported.
Hon Hai, which operates under the trade name Foxconn, is the biggest electronics contract manufacturer in the world. Some of the notable products manufactured by the firm include iPhone and iPad from Apple, Mobile World Live reported.
GBDEx will have 50 million yuan ($8.05 million) in registered capital, and it will be headquartered in Guiyang in the southern province of Guizhou.
Global Big Data Exchange will offer data cleaning, data platform development, data modeling and related services.
The Guiyang City government, technology companies and several providers of big data and mobile financial services are also interested in gaining a stake in GBDEx, according to Chinese media reports.
Guiyang City will host a Big Data Expo next month and one of the attendees will be Hon Hai Founder and Chairman Terry Gou. The expo is also expected to attract large international firms such as Dell, Hewlett-Packard, Intel, Alibaba and Google.
As part of efforts to develop Guiyang as a hub for Chinese big data sectors, the Guiyang government inked 138 development deals last year. The deals had an estimated total value of $132.61 billion yuan ($21.33 billion).
Guiyang City officials signed an additional 61 investment deals worth 50.64 billion yuan ($8.14 billion). These deals are scheduled to be completed before 2017.
One of the investors is Hon Hai Group, which has plans to build facilities for nanotechnology research, as well as science and technology parks for cloud computing and semiconductor production.