ZHENGZHOU - A new business headquarters building for Foxconn, the world's leading electronics manufacturer, broke ground in Zhengzhou, the capital of Central China's Henan province, on Thursday.

This move marks a significant step forward for the Taiwanese company in advancing its new strategic industry layout in the mainland market.

The new headquarters will span over 2.67 hectares, with the first phase expected to involve an investment of approximately 1 billion yuan ($139.39 million).

Cui Zhicheng, chairman of Foxconn Innovation Industry Development Group Co Ltd, said that the new headquarters is expected to be the core base for the company's development in the electric vehicle, new energy, and energy storage industries on the Chinese mainland.

"Foxconn's determination and confidence in investing in the Chinese mainland and Henan province remains steadfast," Cui said, adding that the new headquarters aims to serve as the starting point for Foxconn's focus on emerging industries, the core of its transformation and development, as well as a crucial engine driving the company's industrial upgrading.

Henan and Foxconn share a deep bond. Foxconn, the principal assembler of Apple iPhones, established operations in the inland province in 2010. By the end of 2023, its Zhengzhou factory spanned around 2.8 million square meters and had recorded 12 consecutive years of growth in industrial output. Over the years, Foxconn has further expanded its footprint across Henan, setting up facilities in cities such as Jiyuan, Hebi and Zhoukou.

The cooperation has also transformed Henan's economy, turning the province into a global hub for intelligent terminal manufacturing.