Citic Guo'an Henan Real Estate signed a cooperation agreement on regional investment and development with the Administrative Committee of High-tech Industrial Development Zone of Nanyang on Aug 19.

The real estate company is one of the biggest subsidiaries of Citic Group. According to the agreement, it will carry out full investment, development, investment attraction and operation for a 15.63-sq-km area of Zhongguancun-Nanyang Science Park.

The move will not only deepen cooperation between the state-owned company and local government, but also push forward the adjustment of industrial structure as well as the transformation of the economic growth pattern in the region.

The signing of the agreement will breathe new life into the economic development of Nanyang, said vice Party secretary Wang Zhihui, who urged departments at all levels to provide more efficient and higher-quality services to ensure the smooth implementation of the project.