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China Baowu And Shanghai Electric Signed The Framework Agreement For Strategic Cooperation

Apr. 18, 2019

On the afternoon of April 8, under the joint witness of Chen Derong, Secretary of the CPC Committee of Baowu, Chairman of the Board, and Zheng Jianhua, Secretary of the Shanghai Electric Party Committee and Chairman of the Board, Baowu and Shanghai Electric signed the strategic cooperation framework agreement. Zou Jixin, Standing Committee of CPC Committee of Baowu, Secretary of CPC Committee of Baosteel, Chairman of the Board, and Lu Yachen, Vice President of Shanghai Electric Company, and Dong Jianhua attended the signing ceremony. Guo Bin, Vice President of Baowu, China, and Zhang Ke, Vice President of Shanghai Electric Company signed the agreement on behalf of both sides.

According to the agreement, the two sides will actively respond to the national strategy of "one belt road initiative" and "Yangtze River Delta integration" regional development, give full play to their respective information, resources and channel advantages, and jointly develop overseas markets, and carry out in-depth cooperation and exchanges in the fields of steel products, equipment and technology, energy saving, environmental protection and e-commerce. Through 26 specific cooperation projects, the two sides will actively explore new areas, new ways and new ways of cooperation and promote the implementation of various projects. In addition, the two sides will establish a high-level exchange mechanism to achieve the annual exchange of visits by the main leaders, and build a comprehensive headquarters liaison and project implementation platform, responsible for the communication and overall promotion of cooperation between the two sides, coordinate the docking and exchange between the business departments of the two sides or subordinate companies, and promote the consultation, determination and implementation of specific projects.

China Baowu And Shanghai Electric Signed The Framework Agreement For Strategic Cooperation

Zheng Jianhua said at the signing ceremony that Shanghai Electric is now in the beginning of the second step of the "three-step" strategy. It is urgent to become a strategic partner with world-class enterprises such as Baowu, China, in order to better serve the national strategy and help its own transformation and development. It is hoped that the signing of this agreement will serve as an opportunity for both sides to pay attention to the focus of relevant cooperation areas, and to seek greater and broader breakthroughs in business models on the basis of previous cooperation experience, so as to put innovation on a higher level and normalize it so as to truly play a role in the secondary development of the two enterprises.

Chen Derong said that Baowu, China, very much agrees with the development concept of Shanghai Electric and the achievements made by the company in recent years. The mission and vision of Shanghai Electric and China Baowu are similar, so we hope to strengthen cooperation with Shanghai Electric, constantly tap space for improvement, and jointly build the ultimate strategy in the fields of intelligent manufacturing, green environmental protection, e-commerce, and so on. We will work together to promote the in-depth implementation of the national strategy and build an industry ecosphere in line with their respective development.

Before the signing ceremony, the two sides also had in-depth exchanges on the development and transformation of energy equipment, the construction of B2B steel ecosphere and intelligent manufacturing.

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