(Yicai Global) Oct. 9 -- Shenzhen Institute of Building Research Co. [SHE:300675], a high-tech firm based in southern China's Guangdong province, plans to invest CNY12 million (USD1.8 million) to set up a green industry research company in Xiong'an New Area in collaboration with two investment firms.
The research company plans to cooperate with Shenzhen Capital Co and China Xiong'an Construction Investment Group Co. to set up the new firm, the former said on Oct. 9. The Xiong'an-based group will contribute USD3 million while Shenzhen Capital will chip in USD2.7 million.
The new firm will be responsible for research and consulting on ecological construction and green industry in Xiong'an. Its tasks will include planning and organizing forums, seminars, workshops and other academic activities and developing a green development data platform.
The consultancy aims to be a think tank for the city and industry development in the area and will not overlap with its parents' main technical operations, such as architecture. The new firm will effectively coordinate between upstream and downstream sectors, the institute said.
Founded in 1992, Shenzhen Institute of Building Research began as a scientific research unit, but now focuses on high-tech and green development. It has national laboratories and carries out energy-saving evaluations.