Chinese company Guoxin International on Wednesday proposes to invest $2 billion fund for the reconstruction of New Zealand 's earthquake-battered city of Christchurch.

Mayor Lianne Dalziel said she had signed a Letter of Cooperation and Friendship on behalf of the Christchurch City Council with Guoxin International, China's largest tendering and procurement company with a focus on major government projects, particularly in infrastructure development.

Dalziel said the council was keen to develop relationships and connections that would attract quality economic investment into Christchurch and the agreement reached with Guoxin International provided an ideal opportunity to do this.