(ECNS) -- Taiwan's Hon Hai Precision Industry Co is considering having its Chinese mainland business, Foxconn Technology Group, listed on the local stock market in the coming three to five years, Beijing News reported on Friday, citing Hon Hai Chairman Terry Gou.
Guo said at Hon Hai's annual shareholders meeting on Thursday that the spinoff could help boost the value of its business on the Chinese mainland. Despite its expansion plans in India, Hon Hai will not cut its manufacturing scale?on the mainland, where the consumer market is emerging rapidly, according to the newspaper.
Statistics show that Foxconn's?total?volume of?imports and exports?accounted for 3.5 percent of that of?Chinese mainland in 2014. ?
Guo did not elaborate on the planned spinoff, while Foxconn, the world's largest electronics contractor manufacturer, has made no comment either, it was stated.
Guo had announced Hon Hai's spinoff and restructuring plans at the shareholders meeting back in 2013. So far, a variety of companies under it are listed on stock exchanges in Taiwan, Hong Kong and London.
