Global Logistic Properties (GLP) has signed a strategic partnership agreement with China Development Bank Capital (CDB Capital) where the former will become CDB Capital's major partner for logistics infrastructure development. This accord is expected to enhance GLP's access to land and financing resources in China, the logistics company said.

CDB Capital has a major focus on investing in projects driving urbanization in China, a key policy priority of the Chinese government. It is actively involved in the country's urbanization and infrastructure development projects together with local municipalities.

CDB Capital -- the wholly-owned equity investment and asset management arm of China Development Bank (CDB) -- via China Development Bank International Holdings (CDB International), invested in GLP China in the second tranche of GLP's China consortium investment completed on September 24 2014.

Ming Z. Mei, chief executive officer of GLP, said: "We are delighted to establish this strategic partnership, which follows the second tranche completion of our landmark China consortium investment last week. As the main institutional investor promoting urbanization and infrastructure development projects in China, CDB Capital will enhance our land sourcing capabilities which will help us drive value creation as we ramp up growth across China."

Fan Haibin, president of CDB Capital, said: "Logistics infrastructure is a policy priority for the Chinese government, with domestic consumption expected to be the economy's main growth driver going forward. GLP's unrivalled expertise in logistics network planning, development and management of modern facilities provides an ideal platform to enable this growth. We are pleased to forge this long-term partnership with GLP and look forward to continued cooperation."

CDB is the largest developmental financial institution in China. It is also the primary medium- to long-term investment and financing services provider in China, which aligns its business focus with national economic strategy and allocates resources to promote China's economic and social development. CDB is committed in supporting national infrastructure, basic industries, pillar industries and national priority projects and promoting coordinated regional development and urbanization. As of June 30 2014, CDB's total assets totaled 9.9 trillion renminbi (US$1.6 trillion). In the first half of 2014, CDB lent about 683.2 billion renminbi in urbanization-oriented loans. CDB Capital and CDB International are wholly-owned entities of CDB, which are engaged in equity investment and asset management business in China and overseas.