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On November 3, 2022, the Shanghai Stock Exchange (SSE) and Aviation Industry Corporation of China, Ltd. (hereinafter referred to as AVIC) held a signing ceremony for a strategic cooperation agreement. Cai Jianchun, Deputy Party Secretary and President of SSE, and He Shengqiang, Party Member and Deputy General Manager of AVIC, witnessed the signing of the agreement and attended the forum. Liu Ti, Executive Vice President of SSE, Lu Guangshan, Secretary of Board of Directors and Chief Engineer of AVIC signed the strategic cooperation agreement on behalf of the two sides.
He Shengqiang, Party Member and Deputy General Manager of AVIC, said at the forum that AVIC, as a backbone enterprise of China's aviation industry, provides advanced aviation weaponry for national defense, advanced civil aviation equipment for transportation, and high-end equipment and innovation power for advanced manufacturing. Around four dimensions, namely the real economy, scientific and technological innovation, modern finance and human resource, it has accelerated efforts to build a modern industrial system. In recent years, with the help of the SSE, AVIC has actively taken advantage of the capital market to promote its high-quality development and completed key work such as the listing of AVIC UAV on the STAR Market. Based on the present and looking into the future, AVIC will take the opportunity of this agreement to deeply implement the spirit of the 20th CPC National Congress, keep in mind its position as among "top priorities of the country", strengthen strategic cooperation with the SSE, establish a regular mechanism, carry out information communication by step and stage, make full use of the capital market to promote industrial integration, build a new industrial pattern, and provide strong support and substantial guarantee for the construction of a world-class army.
Cai Jianchun, Deputy Party Secretary and President of SSE, said that the report of the 20th CPC National Congress pointed out that high-quality development is the primary task of building a modern socialist country in all respects. This requires accelerating the implementation of the strategy of innovation-driven development, speeding up the achievement of sci-tech self-reliance and self-strengthening at higher levels, and facilitating the improvement of the layout and structure of the state-owned sector. The SSE conscientiously implements the decisions and arrangements of the CPC Central Committee, attaches great importance to serving the reform and innovation of state-owned enterprises, and actively exploits the functional advantages of the exchange to provide comprehensive services across the product lines. All along, the SSE and AVIC have maintained a good cooperative relationship, with a broad basis and space for cooperation. In a period of new historical opportunities, the two sides have entered a new stage of cooperation. The SSE will take the opportunity of this agreement to actively provide support in equity and bond financing, help the listed companies under AVIC to develop with high quality, improve their governance level, promote the industrial integration of the group, facilitate the realization of high-level self-reliance and self-improvement of technology in the aviation industry, and make greater contribution to the building of a great modern socialist country in all respects.
According to the agreement, the SSE and AVIC will follow the principle of "complementary advantages and win-win cooperation" and the market-oriented and law-based direction, and conduct comprehensive cooperation in corporate equity financing, M&A and restructuring, issuance of corporate bonds and ABS, issuance of public REITs, and innovative products. The two sides will strengthen exchange and sharing of information, and do a good job in enterprises cultivation, listed company quality improvement, industrial integration, training and promotion on capital market, and joint research, thus establishing a solid mechanism for long-term cooperation.
Officials from relevant departments of the SSE and AVIC attended the signing ceremony and forum.
