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Shanghai firms joining forces
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Shanghai Greenland Group Co has entered into a framework agreement to form a strategic partnership with China Eastern Airlines, a major move by the two state-owned enterprises to leverage and optimize each other’s resources to facilitate growth.
The two Shanghai-based companies, both leaders in their own industry, will join forces in real estate development, hotel management and asset acquisitions, as well as other sectors which may include general aviation, ticketing, advertising and staff training, the two companies said.
The agreement includes real estate development on untapped land plots at Hongqiao airport, Yunnan’s Wujiaba airport and Hefei Luogang airport.
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