China State owned Enterprise Structural Adjustment Fund Phase II Co., Ltd. was established in Xi'an

　　Deepening cooperation between central and local governments, Wuxi will bear fruit again! On the morning of October 7th, China State owned Enterprise Structural Adjustment Fund Phase II Co., Ltd. was officially unveiled and established in Wuxi. The first parallel fund was jointly established by Wuxi City and China Chengtong as cornerstone investors, with a total scale of 73.75 billion yuan, jointly invested by 8 central enterprises. Ma Xin, Vice Governor of Jiangsu Province, and Peng Huagang, member of the Party Committee and Secretary General of the State owned Assets Supervision and Administration Commission of the State Council, delivered speeches at the meeting and jointly unveiled the plaque for the fund. Du Xiaogang, Secretary of the Municipal Party Committee, and Zhu Bixin, Secretary of the Party Committee and Chairman of China Chengtong Holdings Group, delivered speeches respectively. Li Bing, Director of the Capital Operation and Revenue Management Bureau of the State owned Assets Supervision and Administration Commission of the State Council, Weng Qiwen, Deputy Director and First level Inspector of the Finance Department of the Ministry of Industry and Information Technology, Liu Jian, Deputy Secretary General of the Provincial Government, Zhao Jianjun, Acting Mayor, and Li Xiubin, Deputy Director of the Provincial State owned Assets Supervision and Administration Commission, attended the founding ceremony. Jiang Min, member of the Standing Committee of the Municipal Party Committee and Deputy Secretary of the Party Group of the Municipal Government, presided over the event, and Zhang Lijun, Secretary General of the Municipal Government, participated.

　　Ma Xin congratulated the establishment of Fund Phase II Co., Ltd. and thanked the State owned Assets Supervision and Administration Commission of the State Council and central enterprises for their long-term care and support to Jiangsu. He said that finance is the core and lifeblood of modern economy, and an important precursor and support for modernization construction. Wuxi has developed industry and commerce, with strong driving force for industrial development. It is an important sector in Jiangsu's economic map, playing a leading, supporting, and exemplary role in the high-quality development of Jiangsu's economy. The settlement of the second phase fund in Jiangsu and Wuxi is of great significance and far-reaching impact. We will fully support and provide accurate services. I believe that under the professional management of China Chengtong, the Phase II fund will effectively guide social capital to participate in the adjustment of state-owned economic structure, promote the in-depth implementation of the three-year action plan for state-owned enterprise reform, effectively enhance the utilization of multi-level capital markets by state-owned enterprises, achieve the improvement of state-owned enterprise quality and efficiency, and the preservation and appreciation of state-owned capital, better meet the funding needs of strategic emerging industries, promote high-quality development of regional economy, and help build a new development pattern. We look forward to more central enterprises settling in Jiangsu and working together with us to create a better future.

　　The second phase of the national research fund settling in Wuxi is a beneficial exploration of cooperation between central enterprises and local governments! ”Peng Huagang pointed out that the establishment of the second phase of the National Investment Fund will be more conducive to fully leveraging the platform role of state-owned capital operation companies. Through market-oriented operation of funds, it will better serve national strategies and the reform of state-owned enterprises in the new stage, maximize the efficiency of state-owned capital allocation, and make greater contributions to accelerating the construction of world-class enterprises and promoting high-quality development of the national economy. All parties involved in fund operation should adhere to serving national strategies as the core, risk prevention and control as the bottom line, market-oriented and professional operation as the principle, and collaborative cooperation and mutual benefit as the basis. They should firmly grasp the mission and positioning of the national fund, enhance their value creation capabilities, ensure the sustained, stable and healthy development of the fund, and ensure the common development of all parties. We hope that Jiangsu Province and Wuxi City will continue to support the reform and development of state-owned enterprises, and provide strong guidance and assistance for the follow-up work of the second phase of the national survey.

　　During his speech, Du Xiaogang paid tribute to the State owned Assets Supervision and Administration Commission of the State Council for providing guidance and assistance, China Chengtong for leading the implementation of the project, and thanked the project team for their hard work and sweat. He said that since the partnership between China Chengtong and Wuxi in May last year, the concepts and ideas of the two cooperation teams have been highly aligned, and various work has been rapidly promoted, fully reflecting China Chengtong's profound strategic vision, pragmatic and efficient work style, and mission to serve development. It fully reflects the high attention of the State owned Assets Supervision and Administration Commission of the State Council and China Chengtong to the reform of state-owned assets and enterprises and their concern and support for the development of Wuxi. We hope that all parties can cooperate sincerely, work together to enhance the new strength of state-owned enterprises, fully leverage the leading role of the National Development Fund, accelerate the pace of state-owned asset securitization, and promote the strengthening, optimization, and expansion of state-owned assets and enterprises; Joining hands to add new vitality to capital, encouraging and driving social capital to participate in the structural adjustment of the state-owned economy, attracting various types of capital to settle in Wuxi, and accelerating the construction of a highland for the agglomeration and development of the equity investment industry; Join hands to create new advantages in the industry, accelerate the construction of a modern industrial system that is independent, controllable, safe, and efficient through state-owned investment. We look forward to central enterprises deploying more high-quality projects and gathering more high-quality resources in Wuxi, and the central and local governments working together to write a new chapter of mutual benefit and win-win results. Wuxi will continue to provide the best business environment, open up a new era of cooperation between the central and local governments, and make new contributions to the reform and modernization of state-owned assets and enterprises throughout the province and the country.

　　Zhu Bixin stated that China Chengtong Holdings Group will seriously study, understand, and thoroughly implement the work requirements of the State owned Assets Supervision and Administration Commission of the State Council and the Jiangsu Provincial Party Committee and Government for the second phase of the National Development Fund. We will live up to our trust, forge ahead, work closely with the shareholders of the second phase of the National Development Fund, adhere to our mission positioning, strictly abide by risk control, strengthen cooperation and win-win situations between central and local enterprises, and make every effort to ensure the smooth start, healthy development, and successful operation of the fund. We will create greater value for all shareholders and the development of Jiangsu Province and Wuxi City, and make greater contributions to deepening the reform of state-owned assets and enterprises and promoting high-quality development. The second phase of the national research fund has settled in Jiangsu for the first time, which is of great significance for promoting the restructuring and adjustment of state-owned assets, and for expanding and strengthening them. The company is entrusted by the Wuxi Municipal Government to manage Wuxi's funds as a cornerstone investor in the national investment fund. It will adhere to the principles of "market-oriented operation and professional management", fully leverage the resources and experience advantages of the state-owned capital operation platform of central enterprises and local governments, support key projects of state-owned enterprise reform, strategic emerging industry development, state-owned enterprise asset securitization, etc., and effectively promote the strengthening, optimization, and expansion of state-owned enterprises and high-quality economic and social development in our city.