​New headquarters to be established in Jinan

CITIC Group and Beijing Yingtong Technology Company signed cooperation agreements with the Jinan government on Feb 27 via video conference.

CITIC Group and Beijing Yingtong Technology will spend 27.6 billion yuan ($2.94 billion) to establish headquarters in Jinan, capital of Shandong province.

Beijing Yingtong Technology also signed a cooperation agreement with Changqing district government to build an industrial park focusing on information technology.

Sun Shutao, mayor of Jinan, Wang Jingwen, deputy mayor of Jinan, and Sun Bing, member of the leading Party members group of the Jinan municipal government, attended the signing ceremony.

CITIC Group is a large state-owned multinational enterprise engaging in finance, resources and energy, manufacturing, engineering contracting and real estate. The group has been listed in the Fortune Global 500 for 11 consecutive years.

Beijing Yingtong Technology is a telecom service provider committed to providing high quality network communication services and systematic communication solutions.

The company holds a 49 percent stake in CITIC Application Service Provider Co and established a long-term and close strategic cooperation alliance with CITIC Application Service Provider Co.

The two headquarters, which will be located in Jinan's Lixia district, will promote the development of the city's high-end industries and further accelerate the city's shift from old growth drivers to new ones.