East China's Nantong signs a cooperative agreement with CMG in Nanjing, Jiangsu province on August 30, 2018. [Photo by Xiao Yong]

The Jiangsu provincial government signed a strategic cooperation framework agreement with China Merchants Group (CMG) on August 30. At the same time, the Nantong municipal government signed a cooperative agreement with CMG.

According to the agreement, Nantong and CMG will cooperate in the Tongzhou bay demonstration zone and the development of the port area in order to advance port development and the construction of an inland transport system. The two sides will share responsibility for ecological restoration in riverside areas and urban renovation, building a cruise port and Nantong bund for leisure and sightseeing. They will strengthen cooperation in the luxury cruise industry especially in manufacturing and the industry chain. 

Lou Qinjian, Secretary of the Jiangsu Provincial Party Committee, gave a high appraisal to Nantong's economic and social achievements. He noted that in light of the opportunities of the Belt and Road, the construction of the Yangtze River Economic Belt and the integration of the Yangtze River Delta in the key period of industrial transformation and upgrading, Jiangsu especially needs to cooperate with CMG and other government-owned enterprises. "Nantong has unique location advantages and development potential, so both sides should further cooperate in port logistics and equipment manufacturing, contributing to the province's development," he said.

Li Jianhong, president of CMG, said that CMG has had wide cooperation with Nantong in finance, industrial parks and industries, with good results. CMG will deepen its cooperation with Nantong to boost the development of both.