While we hear of daily layoff announcements in many Chinese factories, Foxconn, the world's largest contract electronics maker, is planning to spend a few billion U.S. dollars over the next three to five years to build a digital city with the latest technologies added to make it a healthy, clean place to live, said Terry Gou the chairman of Foxconn today.
The first phase of the project will involve working with IBM to install its Smart City China.
"We want to build smart cities," he said, declining to name the location of the first for fear land prices in the area would immediately rise.
Gou's company already runs several massive factory complexes in China that operate as small cities in their own right, housing tens of thousands of workers in dormitories and feeding them in cafeterias. IBM Smart City