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On September 20, 2017, under the active promotion of both parties, China Overseas Development Co., Ltd. and China Life Investment Holdings Co., Ltd. signed a strategic cooperation framework agreement in Beijing. Mr. Yan Jianguo, Chairman and Chief Executive Officer of China Shipping Development, and Mr. Zhang Fengming, President of China Life Investment, attended the signing ceremony. Mr. Zhang Yi, Vice President of China Shipping Development, and Ms. Liu Hui, Vice President of China Life Investment, signed the contract on behalf of the two companies.
The two parties intend to work together in the areas of characteristic towns, core cities’ boutique stock property projects, core cities’ high-quality commercial and office projects, tourism and vacation projects, senior housing real estate projects, and stock property project asset securitization. In-depth development and operation; will explore in-depth cooperation on major national strategic support construction projects such as the Belt and Road Initiative, the coordinated development of Beijing-Tianjin-Hebei, the construction of the Xiongan New Area, and the Guangdong-Hong Kong-Macao Greater Bay Area. The two parties will combine market conditions to seize opportunities for mergers and acquisitions and restructuring such as the reform of mixed ownership of state-owned real estate enterprises. Both parties will give full play to their respective advantages in the real estate industry and the financial sector, and strive to jointly promote the implementation of large transactions.
This cooperation has reserved high-quality cooperation resources for the diversified development of China Shipping Development. The two parties will jointly explore the investment and financing innovations of insurance funds and real estate and infrastructure projects, so as to achieve mutual complementarity, mutual benefit and win-win results for both parties.
