The agreement is between Manchester & Cheshire Construction and the Chongqing Jinstar Real Estate Development Company.
The companies will form The Anglo-Chinese Alliance to bid for development sites, including Manchester Place, a partnership between the city council and the Homes and Communities Agency which aims to build 55,000 new homes by 2027.
Michael Purcell, development director of Manchester & Cheshire Construction, and Steve Yang, Jinstar’s director of international co-operation, signed a memorandum of understanding to launch the joint venture (pictured).
Yang has been part of the Chinese trade mission which was in the UK to coincide with the state visit of President Xi Jinpin.
Purcell said: “We are delighted to enter into this strategic partnership with Jinstar, whose financial backing, major project experience and UK ambitions are an ideal match for us.”
Manchester & Cheshire Construction was established in 1971, and is a general building and civil engineering contractor which employs 55 staff,
Jinstar, which was founded 18 years ago, has been involved in development projects for hotels, offices, shops, homes, student accommodation and shopping malls.
The alliance with Manchester & Cheshire Construction is its first venture in the UK.