Beijing's Daxing districtand PowerChina, a State-owned developer that undertakes planning and review functions for the national clean energy strategy, struck a cooperation agreement on Dec 21.

Wang Youguo (L), chief of Daxing district, and PowerChina CEO Ding Yanzhang, sign a contract in Beijing's Daxing district on Dec 21. [Photo provided by Daxing district]

At the signing ceremony, the district's chief Wang Youguo hailed the partnership and welcomed the settlement of the corporation's northern headquarters in China.

He indicated that Daxing will support the newly-established headquarters' businesses in terms of industry, space and policy services, and help the company to make full use of its technological and talent advantages to spread good economic and social benefits.

According to Yan Zhiyong, president of PowerChina, this agreement is an important measure in promoting the company's transformation and in accelerating the construction of a world-class enterprise with international competitiveness.

He added that PowerChina has a presence in the entire industry chain, including planning and design, long-term construction, investment and operation. It will thus support a new driving force for the district's urban development.

During China's"14th Five-Year Plan" period (2021-25), the corporation will invest 80 billion yuan ($12.22 billion) in Daxing to promote the district's high-quality growth.