SEP Inks RMB 3bn Deals First Day at CIIE

On November 5, 2018, the first China International Import Expo (CIIE) was inaugurated in Shanghai. SEP participated in the first signing ceremony of import procurement agreements held by SPIC on the same afternoon, and secured a number of procurement contracts and framework agreements worth more than RMB 3 billion ($431 million) with an array of enterprises.




Xia Zhong, SPIC Party Leadership Group Member and Vice President, Marco Bucci, Mayor of Genova, Italy, Paolo Emilio Signorini, President of Port Authority of Genova, Giovanni Pontecorvo, Senior Advisor of Cassa Depositi e Prestiti (CDP), Wu Lei, Deputy Director of Shanghai Municipal Commission of Economy and Informatization and Director of Shanghai Municipal Administration of Science, Technology and Industry for National Defense, Liu Min, Deputy Commissioner of Shanghai Municipal Commission of Commerce, and Pan Liang, Deputy Commissioner of Jinshan Customs, Shanghai, attended the signing ceremony. Besides, four subsidiaries of SPIC, including SNPEC, SNPAS, SPIC Nei Mongol Energy and SPIC Guizhou Jinyuan, as well as nine foreign-funded enterprises from seven countries and region, i.e. US, Italy, Russia, Japan, Singapore, Indonesia and Hong Kong, signed the agreements on site. SEP President Wang Huaiming witnessed the signing ceremony on the stage.


SEP Chairman Wang Yundan delivered a speech on behalf of SPIC import procurement buyers. First of all, he extended gratitude to SPIC for taking the opportunity of "favorable climatic, geographical and human conditions" to hold this signing ceremony of import procurement agreements, which provided a stage for its subsidiaries like SEP to "reinforce cooperation and exchange, and share the future together" with excellent international enterprises.


He noted that supply chain is the ecological system of all the economic sectors and industrial clusters of a nation, which integrates the supply side and the demand side more dynamically. The supplier, as an important link on the supply chain, is not only an essential resource for the enterprise, but also the source of the enterprise's quality, cost and even risk control. The relationship between the enterprise and the supplier, and the strength of the supplier, will determine the enterprise's market competitiveness and risk resistance capacity to a great extent.


He stressed that value creation of an enterprise cannot do without the product with high cost performance from the supplier. We need high-end technologies and products provided by manufacturers like Westinghouse, Ansaldo Energia and GE to build into the project gene; we need coal and mining raw materials from resource providers like Russia-based SUEK, Indonesia-based KIDECO, Singapore-based OM and Hong Kong-based Asia Minerals; we need advanced professional mechanical devices from machinery manufacturers like Japan-based Komatsu; we need high-efficient "DI" management tools from global consulting firms like Deloitte, which conducts diagnosis for, escorts and adds wings to our company.


Since it joined the WTO in 2001, China has made enormous progress in market development, highly integrated into the world economy, and embedded itself into the global supply chain deeply, with an ever-improving export-oriented industry chain. As an ancient Chinese poem says, "The autumn dew is too thick for the cicada to spread wings, with its chirping drowned in the rustling wind." Nevertheless, the noise which affected the economy of the world and China for the time being will not prevail against the megatrends of economic globalization and trade liberalization, said Wang.


"In retrospect of SEP's 'going-global' process, we have realized profoundly that no single achievement could be made without the full support provided by our outstanding supplier partners present today. The mutual understanding and the friendship between both sides has been reinforced through sincere cooperation, and in turn, we have created numerous brilliant results together. GE has been facilitating Caojing Cogeneration in achieving a series of successes. And we believe that Ansaldo will certainly secure fruitful outputs for Minhang Gas-fired Power Generation project. We are full of confidence that all supplier partners will become our strong supporters in the future," he added.


Finally, he indicated that with the implementation of SPIC's strategic planning, we will fully leverage the tremendous strength, management capability, technological innovative power and market development ability of SPIC in clean energy sector, and compose a symphony titled "New Era, Shared Future" magnificently and splendidly together with our remarkable supplier partners.


At the signing ceremony, Wang Yundan signed series of cooperation agreements covering fields including heavy-duty gas turbine, coal and advisory services with Ansaldo Energia, GE, SUEK, KIDECO, Deloitte, etc. on behalf of SEP.







Afterwards, he attended the signing ceremony for "Framework of Purchase for Gas Turbine Equipment and Related Service Agreement" held at Consulate General of Italy in Shanghai, under the witness of Luigi Di Maio, Italian Deputy Prime Minister and Minister for Economic Development, Labor and Social Policies.



SEP leaders including Gu Ai, Huang Chen, Guo Baohong and Li E as well as all department leaders joined in the signing ceremony of SPIC import procurement agreements.

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