Maoming has joined hands with Guangzhou State-owned Assets Supervision and Administration Commission (SASAC) on projects' investigations and signing activities from Sept 23 to 24.

A total of 11 Guangzhou State-owned enterprises and their subsidiaries and innovation alliances participated in the investigation activity in Maoming, which included three Fortune 500 companies.

Six companies signed strategic cooperation framework agreements or business cooperation agreements with the Maoming municipal government, governmental departments, and enterprises. The initial project investment is expected to reach 6.3 billion yuan ($973.97 million) and will cover the fields of hydrogen energy, food processing, rural revitalization, culture, tourism, health care, and port logistics.

A signing ceremony is held between the Maoming municipal government and the GAC Group. [Photo/WeChat account: maofabu]

Guangzhou SASAC said that Maoming has a good business environment, and the two sides have a good foundation for cooperation. With the help of State-owned assets platform and enterprises in Guangzhou, they can seek partners for advantageous local projects in Maoming, carry out all-round and multi-form cooperation, and promote the development of the real economy.

Since this year, Maoming has been deepening cooperation with State-owned enterprises in Guangzhou, which has effectively promoted the relocation of major industries to the western wing of the coastal economic belt.