France's largest vacation real estate company Pierre & Vacances-Center Parcs Group signed a strategic cooperation agreement to expand its business in China with its local business partners in Beijing on Jan 10.

According to the agreement, PVCP will join hands with CDB Urban Transportation Investment Development Fund, Riverside Group and HNA-PV Tourism Co. Together they will establish an innovative business model by combing operation philosophies and the management of the tourism projects with the support of greater resources and funds.

The four parties are expected to develop cultural tourism via new projects and building short-distance tourism destinations in Chinese towns using PVCP's two established holiday resorts brands - Sunparks and Pierre & Vacances.

So far it is understood they will develop several projects in various cities and counties, including Haiyan in Zhejiang province in the next five years.

"Our two brands have brought magical changes to many small villages in Europe," said Gerard Bremond, chairman and CEO of PVCP. "Now I feel that the same thing is needed for towns in China."

Under the cooperation, PVCP will be responsible for the branding concepts of holiday resort projects and brand standards in China.