CEFC China Delegates Attends the Czech-Chinese Economic Cooperation Round-table and Signs Significant Investment Agreements Honored by the Presence of President Xi Jinping and President Milos ZemanCEFC China
CEFC China Energy Company Limited (CEFC China) delegates attending the Czech-Chinese Economic Cooperation Round Table
President of CEFC China Chan Chauto present at the Round Table
CEFC China President Chan Chauto addressing the Round Table
On the morning of March 30 (Prague time), the Czech-Chinese Economic Cooperation Round Table was held in Zofin Palace in Prague, the Czech Republic, attended by CEFC China Energy Company Limited (CEFC China) delegates headed by President Chan Chauto and Executive Director Li Yong. Cooperative agreements on the 50% share purchase of J&T Finance Group S.E. (J&T Finance Group) and on share controlling of ŽĎAS, a.s. (ZDAS) were signed honored by the presence of Mr. Xi Jinping, President of the People’s Republic of China, and Mr. Milos Zeman, President of the Czech Republic.
Witnessed by the heads of the two countries, a strategic cooperative agreement was signed between CEFC China and J&T Finance Group, with CEFC China increasing its shares in J&T Group to 50%, becoming the first Chinese enterprise to have had controlling shares in a European Bank. The two companies will conduct diversified cooperation in both Europe and China, including the cooperation with China Development Bank on cross-border payment and settlement and interbank credit, with Industrial and Commercial Bank of China (ICBC) on the establishment of Central Eastern European Investment Fund and with Ping’an Bank on investment banking facilitating direct investments. The Czech government shows its great support for the interbank cooperation and appoints J&T Finance Group as the major initiator of the Central Eastern European Investment Fund on behalf of the Czech Republic.
CEFC China and Hengfeng Bank Co., Ltd (Hengfeng Bank) jointly established Shanghai Hengfeng-CEFC Industrial Equipment Investment Holdings Co., Ltd with a registered capital of RMB 8 billion and a strategic cooperation agreement has been signed with Železiarne Podbrezová a.s., acquiring holding shares of ZDAS. ZDAS is a company with 50 years of tradition in top-level puddling, metallurgy and engineering in Europe and has an annual revenue of €1.3billion. Through acquisition of leading heavy industry enterprises in Czech, CEFC China and Hengfeng Bank will enable China’s state-owned enterprises and centrally administered SOEs to invest in vehicle equipment and aircraft manufacturing industries.
Following the signing ceremony, Mr. Chan Chauto spoke on the Round Table themed as “Seizing the Historic Opportunities, Creating a New Pattern for China-Czech Win-win Cooperation”. Being honored by the presence of President Xi Jinping and President Milos Zeman, cooperation agreements were signed between enterprises of the two countries valued at €6-plus billion, covering a series of sectors including finance, infrastructure, nuclear power, wind power, aviation and auto mobile.
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