Shao Yaliang met with Sajid Javid, British Minister of Commerce, and Bi Mingjian, President of China International Capital Corporation

September 23rd, Group President Shao Yaliang met with British Minister of Commerce and his delegation. Group Vice President Gu Jianzhong, Sailing Capital President Liu Xiaodong attended the meeting.

Shao Yaliang extended a warm welcome to Sajid Javid, and introduced Shanghai International Group’s main businesses, investment area, and the operation and investments of Sailing Capital, a RMB international investment loan fund. He introduced that the Group will follow the municipal Party committee and municipal government’s strategic imperative, position itself as a operation platform for state capital, build upon municipal owned key enterprises and be proactive in the vertical integration, horizontal consolidation and cross-segment transfer of Group owned assets. The Group will strive to be an effective and world class state owned capital operation company, and be active in facilitating the liquidity of state assets, investment management and building a market for financial elements.

Sajid Javid introduced the investment environment and strengths of Great Britain. He introduced that Great Britain is the fastest economy growing country amount the developed countries, having an open capital market and sound financial systems. Great Britain can provide professional services, human resources, taxation privileges and access to European and Global reach to all investors from the world, and welcomes Shanghai International Group and its affiliates to invest in Great Britain.

During the meeting, both parties engaged in deep and productive discussion in building a long-term communication systems and facilitating future business.

Consul General of British Embassy in Shanghai, Interim President of UK Trade & Investment China and Head of Group Investment Department and Administration Department.

The same morning, Group President Shao Yaliang met with Bi Mingjian, President of China International Capital Corporation and his delegation. Fu Fan, Vice President of the Group attended the meeting.

Shao Yaliang congradulated Bi Mingjian for taking the role of CICC President, and extended warm welcome to visitors from CICC. He reviewed cooperation between both parties, and introduced the current operations of Group State Capital Operations. He introduced that as the state capital operation platform of the municipal government, the Group is operating under the coordination of the municipal Party committee and municipal government, and actively contributing to the state capital and SOE reform and building a market for financial elements.

Bi Mingjian introduced that CICC participated in drafting documents for 18th CPC National Congress with SASAC of State Council, the current status of 1+N SOE reform systems and the preparation of the company’s IPO. He introduced that this visit aims to draw from Shanghai municipal government and SIG’s experience and practices in state capital and SOE reform.

During the meeting, both parties exchanged opinions on difficulties of state capital and SOE reform.

Head of CICC Investment Department, Board Office and Shanghai Account Team, SIG Capital Operations and Administrations were present at the meeting.