The Foxconn Technology Group announced a strategic partnership agreement with China's HNA Group to build an aviation hub on Hainan Island and also said it would invest in an electronics factory there. The two groups signed the deal Sunday on the island off the coast of southern China.

Terry Gou, chairman of Taiwan's Hon Hai Precision Industry Co., which operates in China under the name Foxconn, said Hainan is in a geographically advantageous location.

"It's a great place to develop high technology,” said Gou, who heads the world's largest contract electronics maker.

By investing in the facilities of Hainan Airlines, a subsidiary of the HNA Group, Gou said it would create an ideal logistics system for the electronics factory his group plans to build there in the future.

Gou hoped work on the factory could start this year, but he did not reveal the size of the planned investment.

The agreement involves the fields of aerospace, logistics, technology and trading.



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