Under China's national strategy to promote urban renewal and high-quality urban development, SINO-OCEAN GP has actively responded to policy calls by deepening its business layout in urban regeneration. Recently, the company formally signed a strategic cooperation agreement with the People's Government of Karamay City in Xinjiang and Xiamen University Planning and Design Institute. This high-standard partnership aims to explore sustainable urban renewal pathways for Karamay while optimizing and upgrading urban functions.
As a key node along the Belt and Road initiative and a major national petrochemical base, Karamay boasts one of China's highest per capita GDP figures. The early-developed industrial city contains numerous aging residential communities and public facilities requiring urgent renewal, presenting substantial market potential. In recent years, the Karamay government has established an integrated urban renewal framework spanning diagnostics, planning, and implementation.
The collaboration covers the entire urban renewal process, including policy formulation, urban diagnostics, project screening, design, renovation, and operational management. Leveraging its full-spectrum real estate capabilities, SINO-OCEAN GP will serve as comprehensive urban renewal service provider, coordinating internal and external resources to deliver systematic, professional support. This government-enterprise-academia partnership creates strategic synergy to pioneer a sustainable renewal model combining government guidance, market operation, and public participation.
As the first major achievement under this cooperation, SINO-OCEAN GP and Xiamen University Planning Institute are drafting policy documents for Karamay's self-renewal under government supervision. The initiative seeks policy-level breakthroughs to establish win-win mechanisms benefiting residents, government, enterprises, and markets while creating standardized operational frameworks. Concurrently, the partners will implement pilot projects to develop replicable institutional models and implementation benchmarks.
With over two decades of urban renewal experience spanning 30 million square meters, SINO-OCEAN GP has built systematic solutions covering district renewal, asset revitalization, and community regeneration. The company has successfully launched 17 urban renewal projects in recent years across comprehensive district development, commercial upgrades, and aging community renovations, demonstrating robust capabilities and strong growth momentum.