Wanhua Energy Conservation and China Resources Land signed the “Yantai Happy Wanhua Urban Renewal Project Cooperation Framework Agreement”

On April 13, 2021, Wanhua Energy Conservation Group and China Resources Land signed the “Yantai Happy Wanhua Urban Renewal Project Cooperation Framework Agreement” at Wanhua Yantai Industrial Park. Wanhua Energy Conservation Technology Group Co., Ltd. Chairman Ren Ruizhou, Vice President He Wenlong, Wanhua Building Technology General Manager Wei Xiaomei, and China Resources Land North China Region General Manager Ling Xiaojie and others participated in the signing ceremony.

The signing of this ceremony represents that Wanhua Energy Conservation Group and China Resources Land will establish a long-term, stable and win-win comprehensive strategic partnership. Under the guidance of the government, the two parties will deeply explore and practice the development model of coordinated development of the area, with smart communities, healthy life and green buildings as the development concept, to build a central vitality zone of industrial and urban integration that meets the needs of urban development and improves the quality of life of the people, and create a benchmark project for urban renewal of “consumption + culture + technology + green building”.

Background Introduction

China Resources Group is a diversified holding enterprise group with industry as its core, forming a multi-field business structure including mass consumption, electricity, real estate, cement, gas, health, finance, etc. China Resources Land Co., Ltd. is one of the seven strategic business units of China Resources Group and one of the most powerful comprehensive real estate developers in mainland China. Its main businesses include real estate development, commercial real estate development and operation, property services, etc.

At present, Wanhua has completed the withdrawal from the city and the park. Wanhua’s Xingfu New City area (the original factory area) has been positioned as the “central vitality area and the new city center of Yantai”, which is one of the nine areas vigorously developed by the Yantai Municipal Government.

In order to meet the government’s nine-area development concept, improve the overall image of the original factory area, and improve the living environment of the area, the two parties reached a cooperation intention on the urban renewal project of Wanhua’s original factory area in accordance with the principles of complementary advantages, mutual benefit and win-win, and common development, and signed this agreement.
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