Chinese

CASIC and CDB Sign Cooperation Agreement

07.31.2018

On July 19, CASIC and China Development Bank (CDB) signed the "Agreement on Development Financing Cooperation”. According to the agreement, from 2017 to 2020, the two parties plan to cooperate in thrust areas such as aerospace defense, information security and smart industry, equipment manufacturing, and international cooperation, and to deepen the all-round strategic partnership.

Gao Hongwei, the Chairman and Secretary of Party Committee of CASIC, and Hu Huaibang, the Chairman and Secretary of Party Committee of CDB, attended the signing ceremony; Wang Yunlin, a member of Party Committee and the Chief Accountant of CASIC, and Zhang Xuguang, a member of Party Committee and a vice president of CDB, signed the agreement on behalf of both parties. Officials from relevant departments of CASIC Headquarters, Aisino Corporation, CASICloud Technology Development Co., Ltd., CASIC Finance Co., Ltd., and CASIC Asset Management Co., Ltd. also attended the signing ceremony.

Gao said that the two parties have highly consistent goals and positioning, as CASIC is committed to “empowering the army with science and technology and serving the nation with aerospace technology” as the mission statement, and CDB is dedicated to serving national strategy. At present, under the new environment that high-tech products worldwide are becoming the global core competitiveness, the two parties signed the cooperation agreement with new tasks and requirements taken into account to jointly drive the progress of a number of "critical" projects in key areas such as scientific and technological innovation and advanced manufacturing, which is essential to improve China's manufacturing and aerospace defense level.

Hu expressed that CDB has been working closely with CASIC, and that this signing will likely bring the cooperation between the two parties once again to a new level and height. In terms of military-civilian integration, CDB has extensively supported the development of multiple areas such as aviation, aerospace, and shipbuilding. In the future, CDB will continue to utilize military-civilian integration and high-tech manufacturing to assist CASIC in developing itself into a world-class defense industry enterprise.

In accordance with the agreement, the two parties will take “serving national strategy, economic development and national defense” as the top priority, and give full play to respective business advantages. The two parties will carry out in-depth cooperation and pursue a win-win outcome in the following areas: aerospace defense equipment developing and product upgrading, market exploitation for dual-use technologies and products, development and mass production of commercial aerospace projects represented by the “Five Clouds and One Train”, construction of the “Three Platforms” of CASIC, implementation of major projects like the “Internet + Intelligent manufacturing”, application of Internet of Things, advanced robots and big data, and so on.

(Reported by Zhao Cong; Photographed by Wang Sai)

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