China National Gold Group will invest 2 billion yuan ($289.23 million) to build its regional headquarters for the Guangdong-Hong Kong-Macao Greater Bay Area in Huangpu port, according to a framework agreement signed between Guangzhou's Huangpu district and the group on May 20.
The group will also relocate its core industrial resources at home and abroad to the district. Upon its construction, the project itself and its core industries will create an output value of 60 billion yuan and pay 5 billion yuan in tax every year.
The group grew out of China Gold General Corporation, which was established in 1979.
As the only central state-owned enterprise in China's gold industry and the country's largest gold enterprise, the group is the chairman member of the China Gold Association and the World Gold Council (WGC). It is also the WGC's first Chinese board member.
The company's gold reserves, refined gold production, market share of investment on gold products, gold processing and metallurgical technology rank first in the domestic industries. In 2017, the company's operating income reached 104.46 billion yuan.
Located on the "golden coast" of the Pearl River, Huangpu port is a "bridgehead" of industrial finance and the headquarters economy. It is part of the city's development strategy and aims to be an upgraded CBD in Guangzhou.