On December 28, China Great Wall Asset Management Corporation (CGWAMC) and Tianjin Government sign the Strategic Cooperation Agreement which aims to promote the construction of financial innovation pilot, serving the country economy development strategy and urging the economy development in Tianjin.
In the agreement, CGWAMC and Tianjin Government declared that they are the strategic partners. CGWAMC will take the advantages of preferential policies of Binhai New Area in financial industries, financial transactions, financial market and financial development, in order to develop the financial products innovation and capital market, creating the platforms of innovation theory of financial reform, product research, development, experiment, integrated operation in Tianjin. Also it intended to change Binhai New Area as the center for the research and experiment of financial innovation products, organizing the CGWAMC New Finance Research and Development Center, supporting the pilot construction of financial reform. With the measures of capital increase and stock expansion, redefining the responsibility, reorganizing the management system, the Tianjin SMEs Financial Service Co.,Ltd. , jointly invested by CGWAMC and Tianjin Government , will become the platforms of financial products’ research, development , experiment , training and promotion plant. Meanwhile, CGWAMC will provide special support to the financial projects of Binhai New Area in financial investment, talents and incentive system. Tianjin Government upholds CGWAMC to join the financial innovation projects promoted by the government, and considers CGWAMC New Finance Research and Development Center as an integration of the whole program, which is also the main power to promote the government projects of new products pilot. Tianjin will take the responsibility of research and experiment, providing the funds and policies support to the new financial innovation projects.
Cui Jindu, the member of Standing Committee of Tianjin Municipal Committee and Deputy Mayor indicated in the meeting with Zhao Dongping, President of CGWAMC that with the approval of state council, China Great Wall Asset Management Corporation is a national sole-source investment enterprise, specializing in assets disposal, financial leasing, insurance, investment guaranty and investment bank. For a long time, CGWAMC bolsters the development of Tianjin, open of Binhai New Area and financial innovation and reform, has further cooperation with Tianjin in various industries. The agreement signed by two parties will promote the cooperation more widely and deeply, and it played an important role in Tianjin financial innovation and reform, achieving high quality development. We will spend no effort to continue improving and optimizing the finance and financing environment, providing better service, raising the service level and efficiency, uplifting the cooperation to another peak.
Zhao Dongping, President of CGWAMC indicated in the speech that, on behalf of CGWAMC, I appreciated the long-term trust and support from Tianjin Government. Tianjin is the economic hub in north China, also the economy focus in the future. Binhai New Area will attract the world attention through its financial hub. According to the agreement, CGWAMC and Tianjin Government cooperate in financial products research, creating the value chain of international financing, constructing the national financial asset market with the government, developing industry funds, complex bond and assets securitization. Focused on the own responsibility, CGWAMC will apply deep research, promoting cooperation of two parties, strictly following the regulation and obligation, contributing to Tianjin’s development with positive attitude and energetic passion as well as our wisdom.
Cui Jindu, the member of Standing Committee of Tianjin Municipal Committee and Deputy Mayor and Li Quanshan, Secretary-General of Government along with related officials, and Zhao Dongping, President of CGWAMC as well as Qu Xingyi, Vice President of CGWAMC attend the signing ceremony.