A few months ago, Intel partnered with Rockchip to develop low-cost SoCs for Android. The companies would work together on a design that could be fabricated at TSMC. This time Intel is partnering with Tsinghua Unigroup Ltd. and, unlike Rockchip, also investing in them. The deal will be up to $1.5 billion USD in exchange for a 20% share (approximately) of a division of Tsinghua.
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Intel is hoping to use this partnership to develop mobile SoCs, for smart (and "feature") phones, tablets, and other devices, and get significant presence in the Chinese mobile market. Tsinghua acquired Spreadtrum Communications and RDA Microelectronics within the last two years. The "holding group" that owns these division is apparently the part of Tsinghua which Intel is investing in, specifically.
Spreadtrum will produce SoCs based on Intel's "Intel Architecture". This sounds like they are referring to the 32-bit IA-32, which means that Spreadtrum would be developing 32-bit SoCs, but it is possible that they could be talking about Intel 64. These products are expected for 2H'15.