July 24 — Shanghai Cathay Biotech Inc. has formally signed a strategic cooperation framework agreement with the People's Government of Foshan City.

Under the agreement, both parties will carry out all-round cooperation in areas including industrial ecosystem co-construction, establishment of an investment fund for bio-based new materials, development of a South China R&D center and manufacturing base, and exploration of downstream application scenarios. The partnership aims to advance the large-scale adoption of bio-based polyamide composites in Foshan's pillar industries such as hydrogen storage and transportation, automotive interior and exterior parts, window and door systems, construction materials, and kitchen & bathroom systems. Combined with the demands of major infrastructure projects, the two sides will build green and low-carbon benchmark projects.