Phoenix Satellite Television in Hong Kong will move its headquarters to Beijing after a strategic cooperation agreement was signed Thursday between Phoenix TV and the Chaoyang District of Beijing.

Chen Gang, head of the Chaoyang District, and Liu Changle, chairman of the Phoenix Satellite Television Holdings Limited, signed the agreement on strategic cooperation, which enables Phoenix TV to move its headquarters and production base to the district.

According to the agreement, companies under Phoenix TV will also move to the district for better development.

The two sides will also jointly build a copyright exchange center of cultural and creative industries in the district, the agreement said.