Chongqing- Chongqing Municipal People’s Government and China Merchants Group signed a strategic cooperation framework agreement on January 29, which would help industrial transformation and upgrading of Chongqing and high-quality development of its economy.

Based on the agreement, the two parties will cooperate in transportation infrastructure construction, the Yangtze River shipping and tourism, city and park development and operation, integrated financial services, and reform and development of state-owned enterprises.

China Merchants Group will help the transformation and upgrading of the Yangtze River shipping and cruise tourism business. (File Photo)

In the field of transportation infrastructure construction, China Merchants Group will take its advantage in overseas network operation, as well as port, highway, logistics, and other transportation infrastructure constructions. The Group will actively participate in the investment and operation of ports, highways, and logistics facilities in Chongqing and the construction of logistics channels to promote Innovative development of smart transportation, ecological environment protection, transportation technology, etc.

In the field of Yangtze River shipping and tourism, China Merchants Group will leverage its business advantages in Yangtze River inland shipping, cruise tourism, port, and shipping services, and increase its resource input and revitalize existing resources to help the transformation and upgrading of the Yangtze River shipping and cruise tourism business.

In the field of development and operation of cities and parks, China Merchants Group will give full play to its advantages in integrated development and operation of cities and parks and industrial resources, and actively participate in the development, construction, and operation of industrial parks, smart communities, and urban complexes in Chongqing.

In the field of comprehensive financial services, China Merchants Group will leverage its business advantages in banking, securities, insurance, funds, and financial leasing, and asset management to promote its financial institutions and provide comprehensive financial services to enterprises and institutions in Chongqing.

In the field of reform and development of state-owned assets and enterprises, both parties will give full play to their respective resource advantages and actively explore capital-level cooperation to jointly enhance the industry's market competitiveness.