On April 16, Oceanwide Holdings Co., Ltd. and Alibaba Cloud Computing Co., Ltd. signed a strategic cooperation framework agreement in Wuhan regarding the cooperation in the building of the "Wuhan CBD Smart City," the promotion of operation and management of the Wuhan CBD, and the innovation and development of business models.

The Wuhan CBD invested and developed by Oceanwide Holdings is more than a business district, but a sound ecosystem integrating business, commerce, and residence. The core vision is to build a world-class city image. Its three core concepts of "building a new urban space, enhancing new urban values, and creating a new urban life" have been seen throughout the building of the Wuhan CBD.

According to the agreement, the two sides, adhering to the principles of "mutual benefit, benefit sharing, and mutual promotion," plan to integrate Oceanwide Holding's resources in finance, industry, and operation, as well as Alibaba's leading edge in technology, channel, and ecosystem, and build the Wuhan Smart CBD from the multiple perspectives of parks, buildings, real estate, new retail, health, education, government affairs, and transportation, by leveraging new technologies such as big data platform and artificial intelligence, with a view to improving the CBD service quality, promoting various business and residential activities in the business district, developing "entrepreneurship and innovation" ecosystems, and forming a set of new city operating innovation models.

This partnership with Alibaba Cloud will enable the full integration of the Company's abundant accumulation in real estate with Alibaba Cloud's leading edge in information technology. This not only adds intelligence to the Wuhan CBD Smart City project, but also helps Wuhan advance at the forefront of smart cities, technological innovation industries and other aspects, thereby greatly expanding the vision of the entire city and providing powerful support for Oceanwide Holdings to explore urban operation.