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Zhongshan Xingzhong Group signed a strategic cooperation agreement with SPIC Smart Energy Investment Co Ltd on May 30.

Under this agreement, the two sides will establish a joint venture company in Zhongshan for new energy investment and financing, with an estimated total investment of 7 billion yuan within three years.

State Power Investment Corporation Limited (SPIC) is a central government-owned energy enterprise focusing on the development of the energy power industry chain. As a wholly-owned subsidiary of SPIC, SPIC Smart Energy Investment is mainly engaged in smart energy investment, innovative demonstration business investment, carbon assets management and low carbon services, capital operation, and investment and financing businesses.