Sun Wah Group, a Hong Kong conglomerate signed a cooperative agreement on April 14th with Guangzhou High-tech district, Guangzhou Development District and Huangpu to jointly develop a smart manufacturing special zone and boost Guangzhou-Hong Kong cooperation. The investment of the project is estimated to exceed 10 billion yuan.
According the agreement, the special zone will be located at the west of the Guangzhou Development Zone. The Sun Wah Group will bring Hong Kong’s advanced regulations on investment and trading, and build its South China headquarters, Greater Bay Area Office, Smart Trading and Service Center, AI Experience Center and transportation facilities.
The Guangzhou High-tech District in Huangpu is one of the first batch of high-tech districts approved by the central government. While the west of the Guangzhou Development District along Xia Gang Street, Huangpu has clustered more than 4100 enterprises, 57 among which are Fortune 500 enterprises such as P&G, Mitsubishi Electric and Mead Johnson. It has also clustered a series of key industries including smart manufacturing, fine chemicals, food and beverage, and its annual output overpasses one hundred billion yuan.
Sunwah is a Hong Kong-based conglomerate with businesses in seafood & foodstuff, real estate, financial services, technology, media, environment protection, infrastructure and education and training. It’s believed that Sunwah’s project will strengthen the cooperation between Guangzhou and Hong Kong by attracting more Hong Kong industrial enterprises and professions to Huangpu, and will contribute to the development of the health industry, AI, electronics, new energy and new materials.
Reported by Jasmine Yin
Edited by Olivia Ouyang