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Zhuhai's largest State-owned enterprise, Huafa Group, has teamed up with Zhuhai Port Holdings Group in terms of urban renewal, real estate, and industrial investment, among other ventures.
The strategic partnership was signed on March 26 at the Zhuhai International Convention & Exhibition Center in Shizimen, which Huafa Group developed.
As planned, complementary resources are to be allocated to achieve win-win results in the financial market concerning port and shipping enterprises. Overseas acquisition is a top priority to further deepen the partnership.
Huafa Group has been Zhuhai's largest comprehensive enterprise since its establishment in 1980. Its implementation of "leapfrog development through transformations and upgrades" since 2012 triggered breakthroughs while company assets grew five-fold over five years to reach 220 billion yuan (35.2 billion) in 2017.
Signing ceremony between mega firms [Photo by Zhong Fan / Zhuhai Daily]
The achievement was mostly credited to urban construction that has greatly contributed to Zhuhai's economy. With that strength, the industry chain service provider edged into the China Top 500 Enterprises and China Top 500 Service Industry Enterprises in 2016 and 2017.
Huafa promises full utilization of its expertise in real estate development, finance, industrial investment, commercial services, modern service, and urban operations when developing projects.
The largest port construction company on the west bank of the Pearl River Delta, Zhuhai Port Holdings Group will also expand its business. The company develops, constructs, manages, and operates ports, land, and support facilities, and was named a National 5A Integrated Service-Oriented Logistics Enterprise last September.
Zhou Kai, director of the State-Owned Assets Supervision & Administration Commission of Zhuhai, attended the signing ceremony. Also participating were Li Guangning, chairman of the board of Huafa Group, and board chairman Ou Huisheng of Zhuhai Port Holdings Group.
