On October 25, China Resources (CR) Group and China Aerospace Science and Technology Corporation (CASC) signed a strategic co-operation agreement at the China Academy of Space Technology (CAST) exhibition center in Beijing. China Resources Group Chairman Fu Yuming and CASC Chairman Lei Fanpei attended the signing ceremony.
According to the Agreement, China Resources will join hands with CASC and through a united industrial push, the space bio-industry will be merged with CR Group's healthcare industry, with a view to ushering China's space bio-industry into a new phase of development. Both parties will give free rein to their respective channel and market resources and to their respective R&D and industrial advantages. They will explore comprehensive, far-reaching cooperation in more areas such as healthcare and micro-electronics. They will tightly combine industry with research and development and keep translating this into market value. They endeavor to establish a mutually beneficial cooperation template for common growth as well as a model for mixed civilian-military in-depth development.