On July 1, China’s two main building materials companies, CNBM and Anhui CONCH Group, signed an agreement of strategic cooperation.
 
 Both parties signed the agreements,which included Framework Agreement on Strategic Cooperation, Technological Cooperation between Technological Center of Anhui CONCH Group and the China Building Materials Academy, and Transaction of Xuzhou CONCH.

 According to the agreements, CNBM would acquire 100% of the shares and other interests of Xuzhou CONCH Cement Co. Ltd at 960 million RMB. In addition, the two group companies planed to develop cooperation in technology and processes of cement production, R&D and integration of the cement market.