The Dandong municipal government signed a strategic cooperation agreement with China CO-OP Group on Nov 19, Dandong News reported online.

Gu Guoxin, deputy-director of the Council of All China Federation of Supply and Marketing Cooperatives (ACFSM) and chairman of the China CO-OP Group, and Dai Yulin, secretary of Dandong municipal Party committee, made a speech at the signing ceremony. Shi Guang, mayor of Dandong, presided over the ceremony.

According to the agreement, China CO-OP Group will invest 4 billion yuan ($642 million) in projects including a Northeast Asian logistics port, a Guomen Bay five-star hotel and high-end housing projects.

The Northeast Asia logistics port, located in Tangchi Industrial Park in Zhenxing District of Dandong, will cover 66.67 hectares. As an important market for agricultural products, the first phase of the project will be launched in 2013. It will complete construction and go into service the same year.

The 50,000-square-meter five-star hotel near Guomen Bay Park, together with supporting facilities surrounding it, will become a Dandong landmark architectural complex, covering 300,000 square meters.

Approved by the State Council, China CO-OP Group is the largest agriculture-related logistics enterprise in the country. It ranks 83rd among the China Top 500 and 31st among China Top 500 service companies.

Edited by Zhao Qian and Michael Thai