On the afternoon of May 6th, the Nantong Municipal Government held a "cloud signing" event with China Huarong Jiangsu Branch. This event was signed a strategic cooperation agreement between the Nantong Municipal Government and China Huarong Jiangsu Branch to support the transformation and upgrading of Nantong construction enterprises. Wu Xinming, Deputy Secretary of the Nantong Municipal Party Committee and Mayor, and Xu Yongli, Member of the Party Committee, Vice President, and Secretary of the Board of Directors of China Huarong, attended the signing event and delivered speeches.

Wu Xinming, on behalf of the Municipal Party Committee and Government, congratulated the signing of the strategic cooperation agreement. He stated that this cooperation not only injects financial vitality into Nantong's creation of a more influential "building strong city", but also helps China Huarong further expand its business map, which is a mutually beneficial strategic move. He requested that Hai'an City, Haimen District, and relevant departments and units of the city actively cooperate and fully cooperate to promote the smooth implementation and timely implementation of all aspects of the agreement; Related construction enterprises should seize rare opportunities, make greater efforts to promote transformation and development, continuously enhance the core competitiveness of "Nantong Construction", continuously polish the golden signboard of "Construction Iron Army", and make greater contributions to the high-quality development of Nantong's economy and society.

Xu Yongli said in his speech that Nantong is known as the "hometown of architecture", and a group of industry leading enterprises have emerged. The transformation and upgrading of the construction industry in the new era will inevitably usher in a new round of development opportunities. China Huarong Jiangsu Branch will focus on supporting Nantong as a key area, and spare no effort to support the transformation and development of Nantong construction enterprises by carrying out ongoing construction resumption, high-quality project mergers and acquisitions, PPP or BT project revitalization business with relevant construction enterprises.

Yuan Caiping, Secretary of the Party Committee and General Manager of China Huarong Jiangsu Branch, introduced the operation mode of cooperative projects. Lu Weidong, member of the Standing Committee of the Municipal Party Committee and Executive Vice Mayor, and Ding Zhonghong, member of the Party Committee and Deputy General Manager of China Huarong Jiangsu Branch, signed a strategic cooperation agreement to support the transformation and upgrading of construction enterprises in Nantong. Vice Mayor Tong Jian presided over the signing ceremony.

Ling Yi, Secretary General of the Municipal Government, leaders of relevant departments of the Municipal Government, relevant county (city) governments, and relevant enterprises, personnel from China Huarong and China Huarong Jiangsu Branch, as well as representatives of Nantong construction enterprise leaders such as Da Honghu, Chairman of Suzhong Construction, attended the signing event.

China Huarong Asset Management Co., Ltd. is a large state-owned financial asset management company with strong strength and rich experience in promoting the integration of industry and finance, promoting industrial upgrading, serving the real economy, preventing and controlling financial risks, and deepening reform and transformation. Since March this year, China Huarong Jiangsu Branch has conducted multiple rounds of docking with Suzhong Construction, conducted due diligence on multiple key projects of Suzhong Construction, and formulated preliminary cooperation plans with Suzhong Construction. The strategic signing between the Nantong Municipal Government and China Huarong Jiangsu Branch will further deepen the transformation and upgrading of Nantong construction enterprises such as Suzhong Construction, help enterprises break through the development bottleneck caused by the cyclical downturn of the industry and the combined impact of the "black swan" and "gray rhinoceros" events, and empower Nantong's "construction iron army" to move steadily and further.