China: Xiaomi, Hubei province to launch $1.7b industry fund

China: Xiaomi, Hubei province to launch $1.7b industry fund

A man uses his mobile phone in front of a screen showing a logo of Xiaomi at the launch ceremony of the Mi Note in Beijing, January 15, 2015. REUTERS/Jason Lee

Beijing-based smartphone company Xiaomi Inc and the Hubei provincial government in China have entered into a strategic partnership to launch the $1.7 billion (RMB12 billion) Xiaomi Yangtze Industry Fund.

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