Strategic Cooperation Agreement between SRCIC, TWMG, NWD & K11
31 Aug 2018


On 30 August 2018, Silk Road Chamber of International Commerce (SRCIC), Tang West Market Group (TWMG), New World Development Company Ltd. (NWD) and K11 (China) signed a strategic cooperation agreement in Hong Kong.


Former Bulgaria Deputy Prime Minister Aleksandar Tomov, SRCIC Honorary Chairman Jemal Inaishvili, SRCIC Executive Chairman Jean-Guy Carrier, and SRCIC First Vice Chairman Wu Yunguo, President of Tang West Market Investment Holding Co., Ltd David Kiang attended and witnessed the signing ceremony.


The Signing Ceremony


Mr. Li Zhonghang, SRCIC Secretary General and TWMG Executive President signed the agreement with Dr. Cheng Chi Kong, Executive Vice Chairman and General Manager of NWD, and founder and Honorary Chairman of K11 Art Foundation. The agreement is the foundation of the four parties’ cooperation and development in technology, culture, international trade and so on.


Dr. Cheng Chi Kong, Mr. Jean-Guy Carrier and Mr. Li Zhonghang also delivered the speeches at the ceremony.


Dr. Cheng said, “NWD, K11, SRCIC and TWMG all attach great importance to the inheritance of culture and history. For culture is one of the most important bonds in between silk road countries, it is imperative for our strategic cooperation alliance to support the Belt and Road Initiative and write a new chapter of it.”


Mr. Li said this cooperation is a pivotal step for SRCIC’s future development and it is believed to yield fruitful results in economic and social development as well as cultural exchanges.


NWD Chairman Cheng Kar Shun and SRCIC delegation


NWD Chairman Cheng Kar Shun had an in-depth talk with SRCIC delegation after the signing ceremony. He expressed his expectation for the success of this cooperation and his confidence in the development of Chinese Mainland market. “NWD will always be optimistic to face future challenges, make greater contribution to the society and create value through sustainable company culture and innovative management." Chairman Cheng added.


The agreement marks that the four parties will start to integrate their resources and advantages to facilitate overall development.



New World Development Company Limited (NWD) was founded in Hong Kong in 1970. NWD’s core business areas include property development, infrastructure and services, retail, and hotels and serviced apartments, with a total asset value of HK$468.1 billion as at 31 December 2017. The Group also actively participates in various businesses in Mainland China and has established itself as one of the largest foreign direct investors in the country. The Group's existing investments in Mainland China across four municipalities and 19 provinces are valued at approximately US$16.5 billion as of 30 June 2017.


K11 is a global high-end lifestyle brand operator under New World Group with a focus on three core values, Art, People and Nature. K11 successfully merges art with commerce and created a sustainable “art x commerce” business model, creating a museum retail concept, offices and residences in Greater China.


Tang West Market Group (TWMG) is a non-government enterprise which engaged in the cultural industry and driven business in more than 20 companies,covering areas in financing and investment, commercial services, network media, online international trade logistics, Art CBD, real estate development and management, etc. TWMG adheres to the philosophy of “culture creates value and industry realizes dreams" and has taken up the mission of contributing to business growth and social development. The successful interaction of culture and business has made Tang West Market one of the State Cultural Industry Demonstration Bases in China. Tang West Market Museum, based on the Starting Point of the ancient Silk Road, is China’s first non-government heritage museum and the first state level private museum.


Silk Road Chamber of International Commerce (SRCIC) is a non-government, non-profit organization of international business federations. SRCIC has over 129 organizational members from 77 countries. SRCIC serves as a bridge and a tie between its national business chambers and their governments, as a platform for its members in trade and investment, and as an important strength in the promotion of the Belt and Road construction. SRCIC enjoys high reputation in international business community.