Huafa Group, Jiuzhou Holdings, Zhuhai Duty Free Enterprises Group, and Zhuhai Construction Engineering Holdings signed agreements with Hezhou's preparatory group on Nov 2 to forge mutual strategic cooperation relationships.

The four Zhuhai-based State-owned enterprises will invest over 10 billion yuan ($1.4 billion) in Hezhou's marine industrial projects, spanning deep-sea aquaculture, aquaculture ship manufacturing, island tourism, and island infrastructure construction.

Signing ceremony [Photo by Li Jianshu / Guanhai App]

Huafa Group is expected to invest 12.5 billion yuan ($1.7 billion) to build a comprehensive zone featuring ecological sightseeing, as well as the complementary development of the fishing industry and photovoltaic power generation, formulating a new development model for offshore areas.

Upon operation, the zone's installation capacity will exceed 2 GW, becoming China's largest of its kind. It will be able to generate 10 percent of Zhuhai's total electricity consumption and yield more than 10,000 metric tons of aquaculture products, boosting the green transformation of Zhuhai's energy structure and the high-quality development of its fishery industry. 

Hongwan Central Fishing Port will be built into a marine product trading center of the Guangdong-Hong Kong-Macao Greater Bay Area and national fishing economic zone with support of Zhuhai Duty Free Enterprises Group.

Jiuzhou Holdings will enhance cooperation with Hezhou in the sectors of island infrastructure construction, island tourism development, deep-sea aquaculture ship manufacturing, and marine industry-university-research cooperation on the basis of current cooperation projects. 

Meanwhile, Zhuhai Construction Engineering Holdings, which is a subordinate of Zhuhai Aviation City and Airport Group, will help increase the level of Hezhou's environmental infrastructure and improve the local living environment through more investments and cooperation in municipal infrastructure, island infrastructure construction, bay renovation, coastline restoration, as well as coastal ecological corridor construction. 

Zhao Li, head of Hezhou's preparatory group, noted that Hezhou enjoys a vast sea area and is home to many islands in the Wanshan Archipelago with rich marine resources, adding that developing the marine economy is vital to boosting local high-quality growth. 

State-owned enterprises under the jurisdiction of Zhuhai will give full play to their advantages in management, technology, talent, and capital to contribute more to Hezhou's prosperity, said Li Wenji, director of the State-Owned Assets Supervision & Administration Commission of Zhuhai.