The US-China Green Fund has made strategic investment in property management operator ChangCheng Property Co Ltd to jointly develop green and smart communities, according to the company's top management.

As an investment organization focusing on green industry development, the core concept of the US-China Green Fund is to promote green development in all industries, thus pushing forward China's green and sustainable development, according to Bai Bo, CEO of the US-China Green Fund.

"Through innovating technology and the business model, ChangCheng property has lowered its cost, improved its management efficiency and reduced its energy consumption level," Bai said. "This corresponds with our vision."

Though the amount of investment was unrevealed, ChangCheng property will set up 5 million yuan ($780,500) as an initial development fund to upgrade management and the service platform for green and smart communities, according to the company's top management.

"A green and smart community is oriented towards an environmentally friendly community that centers on low-carbon operation, smart management and sustainable development," said Chen Yaozhong, chairman and CEO of ChangCheng Property.

"In the future, we will join with the US-China Green Fund and other partners to explore ways of developing green and smart communities in China, hoping to create new values and experiences for our community members," Chen said.

The company plans to build five 3A, two 4A and one 5A green and smart model communities before 2019, aiming to build 100 green and smart communities before 2023, according to Lan Feng, operations director of ChangCheng Property.

So far, ChangCheng Property has developed a smart community operating platform that owns independent intellectual property rights and relies on the internet of things and cloud computing, Chen said.

The platform integrates property management and community business, property management service and public service, and supply end and demand end, according to Chen.

Fan Hang contributed to this story.