Hong Kong-based business conglomerate Sunwah Group signed a cooperation agreement with Guangzhou's Huangpu district on April 14 to build a Guangzhou-Hong Kong Smart Manufacturing Special Cooperation Zone. 

Sunwah is a highly diversified conglomerate with business in the areas of food, real estate, financial services, technology, media, infrastructure, and education. Its activities extend deep into the Chinese mainland, as well as overseas into the countries of Japan, Vietnam, Myanmar, Cambodia, Singapore, Canada, the United States, and Australia.

According to the agreement, the two parties will jointly build the special zone in accordance with the industrial revitalization and upgrading plan for the western part of the Guangzhou Development Zone, striving to set up a demonstration zone of Guangzhou-Hong Kong reindustrialization. 

Representatives from Hong Kong based Sunwah Group Guangzhou's Huangpu district sign a cooperation agreement on April 14. [Photo/Guangzhou Daily] 

The Hong Kong company intends to invest 10 billion yuan ($1.5 billion) in Huangpu district and its main projects includes the Sunwah Group South China headquarters, Greater Bay Area Office Zone, a smart transaction and service center, an AI experience center, and a water-road transportation hub.