China: CCCC, NNA Ink Investment Cooperation Framework Agreement

On March 29, CCCC and Nansha New Area (NNA) entered into a cooperation framework agreement on integrated urban development investment.

Zhen Shaohua, deputy general manager of CCCC and Lu Yuan, vice chairman of the Administrative Committee of NNA affixed signature on behalf of respective sides.

Located in the south of Guangzhou, NNA enjoys superior location, favorable environment, solid industrial foundation and huge potential. On September 6, 2012, the State Council approved of the Development Plan of Nansha New Area, marking NNA’s development has been upgraded to a national strategy. As “No. 1 project” of Guangdong and Guangzhou, NNA is expected to become a core of the new growth pole of the economy of the Pearl River Delta in the future.

Under the agreement, the two sides will focus on the development and construction of the start-up zone of the Pearl Bay Area, the central zone of Jiaomenhe and the zone of the cruise home port. The start-up zone of the Pearl Bay Area will be the core of the urban CBD in the future, in which the two sides will work on shoreline regulation, land development and consolidation, infrastructure and public facilities investment, construction and capital operation. The total investment of infrastructure and functional facilities construction in the three zones is expected to top 50 billion yuan. Aiming at different projects in the three zones, the two sides will adopt different cooperation modes or mode combinations.

The two sides stated clearly that they would, under the drive of “reform, innovation and cooperation“, take full advantage of NNA’s systems, mechanisms and policies, give play to CCCC’s advantages in integrated urban development, investment and construction, brand, technology, capital and operation management, innovate CCCC’s business mode of “integrated urban operator” and conduct regional integrated development and operation, in a joint effort to build NNA into a national new area for deepening all cooperation among Guangzhou, Hong Kong and Macao and achieve the continuous and mutually-beneficial development of both sides.

[mappress]

Press Release, April 18, 2013