Found a similar joint-venture between CITIC and a foreign company:
The healthcare project got started in Kunming nearly two years ago when Heythorp Healthcare signed an MOU to establish the centre and a pipeline of similar health and care facilities across China during UK Prime Minister, David Cameron’s trade visit to China in December 2013.
http://www.mingtiandi.com/real-esta...medical-facility-in-kunming-with-uk-investor/
So...
1. MOU do lead to tangible projects
2. Timeline is roughly 2 years
Keep calm and carry on.
Ann: Capitol Health MOU with CITIC Pharmaceutical-CAJ.AX, page-48
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