The Shandong Provincial People's Government and China Energy Investment Corporation (CHN Energy) signed a strategic cooperation agreement on Aug 30 in Jinan, capital of East China's Shandong province.

According to the agreement, the two sides will work closely together to foster emerging industries and expand cooperation in energy supply security, hi-tech sector development and electricity marketization reform.

Local officials said the aim was to boost major projects that are replacing old growth drivers with new ones in Shandong province and achieve mutually beneficial results.

Before the signing ceremony Shandong Governor Gong Zheng held talks with a delegation from the company led by CHN Energy President Wang Xiangxi.

Gong said that the province will continue upgrade its economic growth drivers and take the establishment of the national pilot free trade zone as an opportunity to promote high-quality development in Shandong.

He expressed thanks to CHN Energy for its contribution to Shandong's economic and social development, adding that the province has abundant policy space and development potential, which will bring benefits to expand mutual cooperation.

Wang gave a briefing on CHN Energy's reforms and developments.

He said that Shandong's economy was sustaining stable and relatively fast growth and provided a good environment for central State-owned enterprises to invest and develop in the province.

He added that CHN Energy attached great importance to investment and development in Shandong. Wang said it would take the opportunity to further deepen cooperation in the new energy industry and in energy security supply, in a bid to make new contributions to Shandong's economic and social development.