On June 28, 2016, China State Construction Engineering Corporation Ltd. and Chia Tai Group signed in Beijing the Framework Agreement of Strategic Cooperation and Agreement on the establishment of CSCEC Chia Tai Science and Technology Co., Ltd. Vice President Zheng Xuexuan of CSCEC and Executive Vice Chairman SOOPAKIJ CHEARAVANONT of Chia Tai Group signed the Framework Agreement of Strategic Cooperation, followed by The Investment Agreement of CSCEC Chia Tai Science & Technology Co., Ltd. jointly signed by Chia Tai Group, CSCEC and its subsidiaries. Based on the Agreement, both parties will carry out in-depth cooperation on investment and development of infrastructure, real estate development, research and development of prefabricated buildings. The establishment of the JV Company, CSCEC Chia Tai Science & Technology Co., Ltd, is aimed at furthering cooperation between the two companies and building up a leading industrialized building conglomerate integrating investment, design, production and construction.