On April 21, 2017, the Group signed Strategic Cooperation Framework Agreement with China Communications Construction Company Ltd. and CAS Holdings as a three-party agreement, under which the parties will, by leveraging their respective advantages, jointly invest in and build an innovation industrial park in Sanya, Hainan, integrating technological, industrial, and financial development and having a global vision and international influence. The project will involve an investment of more than RMB 28 billion. Upon completion, it will create RMB100 billion in GDP and RMB10 billion in taxes and 50,000 jobs. In line with the philosophy of “agglomeration, internationalization, eco-friendliness”, the parties will expedite developing the “industrial park” into an exemplary industrial new town of industry-city integration with a complete range of support facilities; they will work together to build the park into a “South China Sea Pearl” in the technology and real-estate industries in China.