Liaoning province and Jiangsu province reached 26 agreements valued at 19.93 billion yuan ($2.93 billion) in Nanjing on June 13, and the two sides will now cooperate in fields such as urban construction, financial innovation, automobile manufacturing, environmental protection and metallurgy.

Liaoning province is a key part of the old Northeast China industrial base, and Jiangsu province’s economy and industry are among the most developed in China. The cooperation between the two provinces is in line with China’s strategy to rejuvenate the once flourishing Northeast China industrial base, which was officially announced by the State Council in 2003.

Sponsored by the State-owned assets supervision and administration commissions of Liaoning and Jiangsu, the business matchmaking meeting held in Nanjing on June 13 attracted about 200 State-owned and private businesses to seek cooperation opportunities.

In addition to the 26 business cooperation agreements reached at the meeting, the two provinces’ State-owned asset management authorities also signed a strategic cooperation agreement committing the two sides to deepen cooperation in industry, resources, capital, management, technology and skills development in the future.