Foxconn Technology Group, the world's largest electronics contractor, hopes to enhance its intelligent manufacturing capacity and expand its presence in the mainland market by investing 37.5 billion yuan ($5.7 billion) in a smartphone plant, R D center and other facilities in Nanjing, Jiangsu province, experts said.

Foxconn, also known as Hon Hai Precision Industry Co, has signed a strategic cooperation agreement with Nanjing municipal government, a local government document said.