GDS Holdings Limited announced that it has entered into a non-binding Letter of Intent with State Development Investment Corporation, China United Network Communications Corporation Limited (China Unicom), and China Telecommunications Corporation Limited (China Telecom) for the joint development of data centers in selected upcoming markets in China. The signing ceremony in Beijing was attended by Mr. Huisheng Wang, Chairman of SDIC, Mr. Xiaochu Wang, Chairman of China Unicom, Mr. Jie Yang, Chairman of China Telecom, and Mr. William Huang, Chairman of GDS. The LoI reflects the shared view of the four parties that the growth of the digital economy in China is creating unfilled demand for high standard, large-scale data center infrastructure and services in selected upcoming markets beyond the core markets where GDS is currently operating. The partners will prioritize an initial pilot project in the Tianjin market. Details of the cooperation arrangements contemplated by the LoI are subject to further definitive legal agreement by the four parties.