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CMBC and CASC Enter into a Strategic Cooperation Agreement

  • On May 10, at China Aerospace Science and Technology Corporation (CASC), Chairman Hong Qi met with Mr. Lei Fanpei, Secretary of CCP CASC Committee and Chairman of CASC, and attended the CASC and CMBC Strategic Cooperation Agreement Signing Ceremony. The Agreement stipulates the business direction and fields of mutual strategic cooperation. Later, CMBC's Corporate Client Dept. will work closely with Beijing Administration Dept. and other departments to comprehensively promote and implement the contents of bilateral strategic cooperation, so as to achieve a win-win situation between the two parties.

    CASC, a super state-owned high-tech enterprise managed by the central government, assumes the tasks of development, production and emission tests of all launch vehicles, applications satellites, manned spacecrafts, space stations, deep space exploration spacecrafts and other aerospace products as well as all strategic missiles and part of tactical missiles and other weapon systems of China. By 2015, with the IPO of CECO, CCHBDS and Lucky Innovative Materials, CASC's listed companies increase to 11.

    Mr. Lei Fanpei said CASC is accelerating to build a new system of aerospace science and technology, promote the development of the four main industries, including aerospace system, missile system, aerospace technology application and spaceflight service, promote the domestic and international technology exchanges and cooperation more actively; CASC is committed to innovation and exploiting, so as to build a world-class large aerospace enterprise group and strive for new and greater contributions to China's modernization drive and the great cause of peaceful use of space by mankind.

    Chairman Hong Qi suggested that the two parties can carry out comprehensive cooperation in the fields of traditional financing services, cash management and settlement business, bonds issuance business, military and civilian integration industry fund, equity financing, mergers and acquisitions, investment banking and retail high-end personal business. He also said CMBC is willing to participate in the construction of various key projects of CASC finance by the way of indirect or direct investment.

    Before the signing ceremony, Chairman Hong Qi, accompanied by Mr. Zhang Jianheng, Vice President of CASC, visited the satellite manufacturing plant; Mr. Zhang Jianheng made a brief introduction to the technical characteristics, development process, operation mode, fields of application and leading superiority of each type of satellite. Then, accompanied by Mr. Lei Fanpei, Chairman Hong Qi visited the China Satellite Exhibition Hall, where Mr. Lei Fanpei introduced seven major satellite series, including remote-sensing, "Dongfanghong" telecommunications, "Fengyun" weather, earth resources, Beidou navigation, scientific exploration and technological experiment and ocean satellites in detail.