Chinese company's $2 billion plan for Christchurch rebuild

Mayor Lianne Dalziel has signed a non-binding "letter of cooperation and friendship" on behalf of the Christchurch City Council with Guoxin International today. Photo / iStock

A giant Chinese company has today revealed plans to raise a US$2 billion fund to help with post-earthquake Christchurch's rebuild.

Mayor Lianne Dalziel has signed a non-binding "letter of cooperation and friendship" on behalf of the Christchurch City Council with Guoxin International today.

It could see a major injection of capital in to the city's rebuild projects.

Guoxin International is China's largest tendering and procurement company with a focus on major government projects, particularly in infrastructure development.

Since its incorporation 16 years ago, the Guoxin Group has completed a total of NZ$750 billion in tendering and procurement projects.

The company intends to establish a fund in New Zealand to explore a range of investment opportunities, with a major focus on the Christchurch rebuild programme, which will create significant opportunities for collaboration.

At the signing of the agreement, Ms Dalziel said that both parties expressed their willingness to work together.

"This occasion recognises the opportunity to enhance mutual understanding and explore possibilities for collaboration as the city regenerates and rebuilds," she said.

"This is a very generous commitment from a very large and reputable Chinese company.

"I'm excited that our community will have the chance to work alongside this company as we shift our focus from recovery to regeneration."

Consul General Jin says the signing of the letter of cooperation and friendship is a symbolic event.

"The fund Guoxin International is establishing will focus on the Christchurch rebuild programme and it reflects the friendship between our two countries and shows our willingness to help each other in difficult times. The fund also represents a further deepening in collaboration in financial sectors between China and New Zealand."

The Letter of Co-operation and Friendship is non-binding and does not impose any legal or financial obligations or liabilities on any of the parties.

The council says it also aligns with its' procurement policy.