Explore State-owned Capital Investment and New Cooperation Mode on Capital Operation Company
On November 17th, the signing ceremony of comprehensive cooperation agreement between China Chengtong and China Merchants Group was held in Beijing. China Chengtong Chairman Ma Zhengwu and China Merchants Group Chairman Li Jianhong were present for the signing of the agreement. China Chengtong President Zhu Bixin and China Merchants Group General Manager Li Xiaopeng signed the agreement on behalf of respective parties. China Chengtong Deputy Party Secretary Shan Zhongli, Vice President Qi Kaiming, Tong Laiming, China Merchants Group Financial Director Fu Gangfeng, Deputy General Manager Deng Renjie, and Board Director and Merchants Capital General Manager Li Yinquan attended the signing ceremony. Vice President Qi Kaiming presided over the signing ceremony.
Before the signing ceremony, both parties made in-depth communication. Ma Zhengwu said a closer strategic cooperation between China Chengtong and China Merchants is an important developing opportunity. The two parties had been cooperated over a multiple of aspects including in the establishment of the SOE Structure Adjustment Fund and the exploration in the securities business over recent years. He hoped both could work closer in the aspects of industry, finance and functional service and by fully making use of respective advantages and excellent coordination, harvest big fruits from this flower of strategic cooperation.
Li Jianhong said both parties undertake the historic mission of pilot in state-owned capital and SOE reform so there are big potentials for cooperation. He hoped both could further enhance the cooperation in financial service and industrial breeding so as to harvest new achievements for pilots while realizing economic benefits. The cooperation can be a good model for that of the state-owned capital investment and operation companies via joint efforts in exploring innovative cooperative mode.
Both Parties believed that a closer strategic cooperative partnership will not only favor the development of both parties and the enhancement of the state-owned capital operation efficiency, but also helps to locate a new orientation in probing SOE reform and state-owned economic structure adjustment from the level of capital.
According to the agreement, China Chengtong and China Merchants, based on an excellent foundation of cooperation in the previous period of time, officially establish a comprehensive strategic partnership on aspects including state-owned capital reform pilots, fund establishment and management, logistics, non-performing assets management, and securities services. Both parties will fully make use of respective advantages as state-owned capital investment or operation company, study and share from one another the experience in SOE reform pilots to propel industrial transformation and development, raise industrial competiveness, and at the same time to increase state-owned capital operation efficiency, realizing hedging or apprehension of state-owned capital value.
Both parties agreed to set up a mechanism of annual meeting between high-level leaders to coordinate and propel cooperative issues and make sure of smooth implementation of the continuingly intensified strategic cooperation.
CMST General Manager, CMST Stock Chairman Han Tielin, China Logistics General Manager Li Xiangyang, Chengtong Fund Management General Manager Wei Ran, China Chengtong Board Office Director Zeng Xiangzhan, President Office Director Zhu Xiaozheng, Financial Management Department General Manager Wu Ping, Strategic Management Department General Manager Dong Zhiguang, China Merchants Office Director Li Yadong, Strategic Development Department Director Xiong Xianliang, Comprehensive Logistics Business Department Director and Sino Trans & CSC Holdings Group General Manager Song Dexing,and China Merchants Financial General Manager Su Min attended the signing ceremony.