The government of Chongchuan district – administered by Nantong city in East China's Jiangsu province – signed a memorandum of cooperation with Cushman & Wakefield, a leading global real estate services firm, on April 20.

Under the agreement, the firm will provide consulting and management services for the introduction of major industrial and commercial projects, in an initiative that is expected to boost the building economy and revitalize state-owned assets in Chongchuan.

Cushman & Wakefield is among the largest real estate services firms globally, with approximately 53,000 employees in over 400 offices and 60 countries and regions.

Across China, it has 22 offices servicing the local market. Its core business covers valuations and consulting, facilities and project management, leasing, capital markets, as well as an urban development consulting service.

The company reportedly plans to bring its own resources into play, systematically helping Chongchuan district to develop and to boost the international profile of the region.

The firm will also participate in the strategic positioning and industrial planning of various key areas in the district, as well as conduct international marketing of the land, industrial parks, office buildings and commercial real estate in Chongchuan.

Huang Weifeng, head of Chongchuan district, made a keynote speech in which he said the construction of the new airport, eight cross-river passageways and other infrastructure in Nantong had made the city more easily accessible. Chongchuan, as Nantong's central urban area, had enjoyed a reputation as being a "land of promise" since ancient times.

Huang urged domestic and overseas investors to seize the development opportunities and grow together with Chongchuan.

Cushman & Wakefield is said to be planning to leverage its global platform, to attract more multinational and leading enterprises and authoritative institutions to settle in Chongchuan, to speed up developing the district as a hot spot for entrepreneurship with a global influence.