XY Group International, a Chinese firm, will locate in Research Triangle Park, North Carolina, after signing a memorandum of understanding with the Hamner Institutes for Health Sciences.

"We see a unique opportunity to advance the economic goals of both China and the United States in our partnership with The Hamner Institutes and North Carolina," said XY Group President and CEO Dr. Yang Yunsong.

The XY Group, which engages in investment and trade deals, will headquarter its U.S. operations at the Hamner Institutes' 56-acre campus at the park. The Hamner is a nonprofit institute that researches toxicology and human health.

In a statement, the XY Group said China is beginning a five-year plan that emphasizes the life sciences and new energy technologies.