The Luohu district government will transfer the use right of a plot of industrial land on Aug 6.

The land is located within the jurisdiction of the Sungang sub-district office, and covers an area of 8,349 square meters. Luohu has reserved the land for the development of strategic emerging industries only.

One of the bidders is the Shenzhen Wentianxia Science and Technology Industrial Co. Ltd., which plans to build a 5G intelligent terminal building. The parent company of Wentianxia is Wingtech Technology, a semiconductor and communications product integration company with a current market value of more than 120 billion yuan ($18.52 billion).

The planned 5G intelligent terminal building will consist of a complex of financial, customer management, supply chains management, quality management and research and development centers.

It will integrate the designing, industrial chains management, manufacturing technique, key technology research and development, and basic sciences research and development of 5G terminals.

According to Wentianxia, after the building is put into operation, it is expected to create 3,600 jobs, generate an annual revenue of 35 billion yuan by 2026, and it will provide the local government with more than 450 million yuan in annual tax revenue.