Hebei Construction Group Entered into a Strategic Cooperation Framework Agreement with the People's Government of Inner Mongolia

Cooperation in construction of major construction projects
Promoting the development of emerging industries

HONG KONG, Oct. 12, 2020 /PRNewswire/ -- Hebei Construction Group Corporation Limited ("Hebei Construction Group" and its subsidiaries, together, the "Group", stock code: 1727) is pleased to announce that the Company has recently entered into a strategic cooperation framework agreement with the People's Government of Inner Mongolia Autonomous Region of the People's Republic of China. Accordingly, the parties will establish a "three-in-one" cooperation platform covering investment in construction sector, infrastructure development and upstream and downstream industries in order to carry out in-depth cooperation in construction of general civil aviation airports, roads and bridges, railways, urban light rails, water conservancy and water supply facilities, underground utility tunnels, new-type urbanization, tourism industry, infrastructure and other major construction projects, thereby jointly promoting the cooperation in developing new energy, ecological construction, hazardous waste transformation and other emerging industries.

As one of the leading non-state-owned construction enterprises in China, the largest non-state-owned construction enterprise in the Beijing-Tianjin-Hebei region, Hebei Construction Group has laid a solid foundation in Hebei Province in its long history. Leveraging on its high-quality construction engineering services, the Group has expanded business to the Beijing-Tianjin-Hebei region, Guangdong-Hong Kong-Macao Greater Bay Area and other regions. Since the construction of the Hohhot Baita Airport Terminal Project, the gift project for the 60th anniversary of the establishment of the Inner Mongolia Autonomous Region in June 2005, Hebei Construction Group has participated in the construction of the Inner Mongolia Autonomous Region for 15 years. The Group has successively participated in the civil aviation, medical and health, and public areas of the Autonomous Region with dozens of high-quality projects. In the past 15 years, Hebei Construction Group's projects in Inner Mongolia Autonomous Region have won 5 Luban Awards, 5 China Steel Structure Gold Awards, 1 National Quality Engineering Award and 3 Zhan Tianyou Awards. Meanwhile, 1 project won the Hundreds of Classic and High-Quality Projects for the 60th Anniversary of the Establishment of People's Republic of China.

Mr. LI Baozhong, Chairman and Executive Director of Hebei Construction Group, said, "the entering into of the strategic cooperation framework agreement is a recognition of our business, and will also facilitate the Group in expanding business scope and scale and further increasing our market share, and create new opportunities for the Group to achieve cross-regional development. As a leading player in the construction industry of Hebei Province, we are set to embrace great development opportunities from the Beijing-Tianjin-Hebei strategic development zone and Xiong'an New Area. We will also capture the historic opportunities from the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan Free Trade Zone. In the future, we will work closely with the government, financial institutions, central and state-owned enterprises and major property developers to actively explore mutually beneficial cooperation opportunities and create more value." 

About Hebei Construction Group Corporation Limited

Hebei Construction Group Corporation Limited was established in 1952 and rooted in Hebei Province for 68 years. It has benefited from the coordinated development of Beijing-Tianjin-Hebei and the construction of Xiong'an New Area. The Group has grown into a leading comprehensive private construction enterprise in China and has been included in the Fortune 500 Chinese Enterprises (2020). The group mainly provides integrated solutions for engineering contracting of building construction and infrastructure projects. According to Frost & Sullivan, Hebei Construction Group is the largest non-state-owned construction contracting company in Beijing-Tianjin-Hebei region and the second largest non-state-owned construction contracting company in China.

Source: Hebei Construction Group Corporation Limited
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