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CNBM and China Insurance Investment Co., Ltd. Sign a Cooperative Framework Agreement



     On July 26, the signing ceremony of cooperative framework agreement between CNBM and China Insurance Investment Co., Ltd. was held in Beijing. Song Zhiping, chairman of CNBM and Duan Guosheng, chairman of China Insurance Investment Co., Ltd. attended the signing ceremony and addressed. Guo Chaomin, associate general manager of the Group and Yang Huabo, secretary of the Party committee, deputy chairman and standing vice president of China Insurance Investment Co., Ltd. signed on the agreement on behalf of both sides. 

      As an executive partner of China Insurance Investment Fund, China Insurance Investment Co., Ltd. is in charge of establishing and managing China Insurance Investment Fund and shoulders the responsibilities of the implementation of “realistically enhancing the support of insurance fund to national significant strategies and the real economy” and “serving national supply-side structural reform and reflecting the industry values” given by the State Council and China Insurance Regulatory Commission. On the basis of this signed cooperative framework agreement, China Insurance Investment Co., Ltd. will support CNBM to center on national industry policies and development strategies and develop the investment in high-end manufacturing fields including international capacity cooperation, international significant project contracting, new energies, new materials and new type housing by means of setting up funds. 

      At the signing ceremony, Song Zhiping expressed gratitude for the trust and support of China Insurance Investment Co., Ltd. to CNBM and remarked that he will try his best to make good use of the funds, give full play to the advantages of funds in capital allocation etc., speed up the process of the Group in adjusting the structure and transforming methods, realize the improvement in quality and efficiency of the enterprise, make the enterprise stronger and better and lead the healthy and sustainable development of building material industry under the premise of ensuring the safety of funds.

Duan Guosheng praised the development trend and performance of CNBM in recent years and had full confidence in the cooperation of both sides. He pointed out that this cooperation of both sides aims to respond to the deployment requirement of insurance industry to actively explore new pathways and better serve the overall development situation of national supply-side structural reform and the real economy, help to adjust the economic structure, promote the transformation and upgrading in the industry and support CNBM to make itself better and stronger, develop stably, adjust the structure and increase the benefit and improve capital allocation and operating efficiency. The establishment of the industry development fund starts the new model to promote the direct investment of insurance funds in various forms. This fund actively integrates with the key task of supply-side structural reform, provides capital support for the acquisition, reorganization and increase in capital and share in the industries with overcapacity, provides strong support to the real economy and instills the powerful financial vigor. Duan Guosheng hoped that both parties can follow the principles of complementary advantages, reciprocity and mutual benefit, coordination and innovation and common development, further deepen the cooperation in fields including project investment and risk management, work hard to promote the shared resources and information, continue to consolidate the guiding advantages in each of the field, continuously improve the ability to develop service economy and jointly complete the mission and task endowed by the CPC Central Committee and the State Council. 

  Guang Zhaoyu, secretary of the Board of Directors and assistant of general manager of CNBM, Shan Yi, vice president of China Insurance Investment Co., Ltd. and the heads of relevant functional departments of both sides etc. attended the signing ceremony.

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