Baogang Group, a State-owned iron and steel business based in Baotou, Inner Mongolia autonomous region, will cooperate with China Iron and Steel Research Institute Group (CISRI) on industrial transformation and upgrading, reports Baotou Daily.

The two parties signed a strategic cooperation agreement on June 19, according to which CISRI will back the development of Baogang Group to boost innovation and economic development.

Wang Xiulian, a senior official with the Baotou municipal government, spoke highly of the alliance between the two companies at the signing ceremony, saying it would bring vitality to Baogang Group’s development.

Founded in 2006, CISRI is one of the 103 pilot innovative enterprises in China, serving as a research and development base for metal materials, an innovation center for key technology in the metallurgical industry, and the authoritative agency for metallurgical analysis and testing.