Sina.com: Shanghai Municipal Government Forges Partnership with SPIC

On April 27, 2017, Shanghai Municipal Government and SPIC signed a strategic cooperation framework agreement in Shanghai. Ying Yong, Mayor of Shanghai and Deputy Secretary of Shanghai Municipal Party Committee, and Wang Binghua, SPIC Chairman and Party Secretary, attended the signing ceremony.

 

In accordance with the agreement, both sides will continue to deepen strategic cooperation.

 

First, they will build a strategic highland for scientific and technological innovation, as SPIC will treat Shanghai as a significant development area, play an active role in the construction of scientific and technological innovation center in Shanghai jointly with relevant scientific research institutions and manufacturing companies, carry out the national science and technology major project of heavy-duty gas turbine completely in Shanghai, create a scientific and technological innovation system for nuclear power industry, and push forward energy structure optimization and efficient and clean utilization in the related areas of Shanghai.

 

Second, they will serve the Belt and Road Initiative, as SPIC will fully rely on the Shanghai Pilot Free Trade Zone, join hands with key enterprises and institutions of equipment manufacturing in Shanghai to explore international market, and lead the technology, equipment, services, management and standards of Chinese nuclear power industry to "go global".

 

Third, they will deepen the reform and innovation of state-owned assets and SOEs, as SPIC will leverage the resources and advantages of Shanghai as an international financial hub, speed up the integration of industry and finance, co-establish industry funds and venture capital funds with local enterprises and funds in Shanghai, and boost the real economic development.

 

SPIC is one of China's top five power generators, the only integrated energy group possessing hydropower, thermal power, nuclear power and new energy assets simultaneously in China, and also a Fortune Global 500 company for five consecutive years. The group has over 50 subsidiaries and affiliated companies in Shanghai, with total assets of more than 80 billion RMB, annual revenue of about 30 billion RMB and total profits of over 3 billion RMB.

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