COFCO Corporation and Hebei Provincial Government signed the strategic cooperation agreement in Shijiazhuang on September 12, 2013. Top corporate management and government officials attended the ceremony.
According to the agreement, the two parties would deepen cooperation in grain processing, storage and transportation, food processing and financial service.
Hebei Province is strong in agriculture. It is also an important farm-product base in North China. It is rich in agricultural resources, has regional advantages, and has good infrastructure. Mengniu Dairy, one of COFCO Corporation’s subsidiaries, also has a plant, i.e., Junlebao, in the province. COFCO Corporation would make more efforts in developing infant formula milk powder to meet the milk powder development plan of Hebei Province. It would also take advantage of local resources to expand cooperation and speed up project construction. COFCO Corporation would see Hebei Province as important strategic base and in turn drive local economy.