Officials inspect Zhanhua Group's production site in Zhanjiang on Aug 18. [Photo by Zhou Haitao/Zhanjiang Daily]

The Zhanjiang Municipal Government signed on Aug 18 a letter of intent with Guangdong Guangye Assets Management Co for strategic cooperation to accelerate the relocation project of Zhanjiang's Zhanhua Group and promote the city's urban and industrial transformation.

Guangdong Guangye Assets Management Co plans to take over Zhanhua Group and build a new environment-friendly company site with advanced technology in Zhanjiang's Donghai Island.

The municipal government will also make renovations of Zhanhua Group's original factory site to make room for urban development.

Zhanjiang Mayor Wang Zhongbing said that cooperation between the two sides on the relocation project of Zhanhua Group will lead to a win-win situation.

He Yiping, chairman of Guangdong Guangye Assets Management Co, inspected Zhanhua Group's production site and promised that the company will join hands with Zhanjiang Municipal Government and make full efforts to speed up the relocation project.

Edited by Mevlut Katik