New forestry headquarters to be established in Baiyun

China Forestry Group Corporation signed a cooperation agreement with Baiyun district government on Feb 7 to establish its Guizhou headquarters in Baiyun district in Guiyang, the capital of Southwest China's Guizhou province.

According to the deals, the group's Guizhou headquarters project will have a registered capital of 1.6 billion yuan ($238.81 million).

It plans to invest 10 billion yuan over the course of eight years to build 20 million mu (1.33 million hectares) of national reserve forests, develop high-quality industries such as deep processing of forest timber in Guizhou, explore the value realization mechanism of ecological products, and increase smart forestry construction efforts.

Meanwhile, it will advance the construction of the Baiyun Forest Health Care Center, deep processing of forestry-derived food, and jatropha oil processing, as well as speed up the preparation of a carbon emission trading center in Baiyun district.

China Forestry Group Corporation is a central first-level enterprise directly managed by the State-owned Assets Supervision and Administration Commission of the State Council.

Its business scope mainly covers forest resource development and utilization, seed seedling cultivation, timber and forest product trade, eco-tourism, and forestry industry supporting services.

It is currently operating 224 enterprises across the world, and it is among the biggest forestry enterprises in the world.

In June last year, the group signed a strategic cooperation agreement with the Guizhou Provincial People's Government to construct national forest reserves and national key laboratories for forestry fertilizer as well as develop the woody oil industry and wood deep processing.