HK-based New World Development builds presence in Wuxi

Hong Kong-based New World Development signed a strategic cooperation agreement with Guolian Group in Wuxi, East China's Jiangsu province, on May 23, local media outlets reported.

The two sides will cooperate in the development of the Wuxi Hong Kong Science and Technology Innovation Center, coordination of financial businesses, and the landing of industrial projects.

Before the signing ceremony, Du Xiaogang, Party secretary of Wuxi, met with Adrian Cheng Chi-kong, chief executive officer of New World Development.

Du noted that New World Development is a large real estate developer and boasts unique advantages in management, brand, and resources in various fields.

He expressed hope that the two sides will strengthen cooperation in high-end commerce, residential construction, and hotel management to help Wuxi become a city of gastronomy and consumption.

He promised that local authorities will create a market-based, legal, and international business environment for New World Development.

Cheng, who was visiting Wuxi for the first time, said that the city has strong industry and down-to-earth officials and that the city's industrial development strategy is very much in line with the development goal of New World Development.

He said that he expects their cooperation to be fruitful.