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On Dec. 18th, 2014, Sailing Capital Management Co., Ltd. (SCM) signed Comprehensive Strategic Cooperation Agreement with China Minsheng Investment Co., Ltd. (CMIC)

Mr. Tu Guangshao, Member of the Standing Committee of CPC Shanghai Committee and Executive Vice Mayor of Shanghai, attended the signing ceremony and delivered a speech. Mr. Dong Wenbiao, Chairman of CMIC and Mr. Shao Yaliang, Chairman of Sailing Capital also gave speeches on the ceremony. Ms. Li Huaizhen, President of CMIC and Mr. Liu Xiaodong, President of SCM signed the agreement on behalf of the two parties. Leaders from People’s Bank of China, Shanghai Financial Services Office and executives from SIG also attended the ceremony.

According to the strategic cooperation agreement, the two parties will regard each other as the long-term strategic cooperation partner, and establish a close long-term cooperation relationship under the framework of national policies, laws, regulation and bylaws. The two parties will make full use of their own advantages on resources and professional skills to carry out in-depth and practical cooperation based on their strategic positioning and orientations, especially the policy advantage on cross-border RMB investment of Sailing Capital.

Mr. Dong Wenbiao, Chairman of CMIC, stated that as the key financial institutions in Shanghai, CMIC and SCM both shoulders the responsibility of building Shanghai into an international financial center. The cooperation between the two parties will provide strong incentives for the cross-border RMB flow and proliferate the market impact of Shanghai in serving the globalization of RMB, thus accelerating the development of Shanghai into an international financial center.

Mr. Shao Yaliang, Chairman of Sailing Capital, stated that the establishment of the strategic cooperation relationship with CMIC will give Sailing Capital an edge in resource integration and sharpen its international competitiveness. The cooperation will effectively promote the cooperation between state-owned and private capitals, leading to a new situation where the state-owned and private sectors interact in a complementary and optimum manner. The two parties will thus become the pioneer of professional financing, marketization, globalization and integration of the industrial and financial sectors, making new contributions in transforming and upgrading Shanghai’s economy and building the city into international financial center.

Mr. Tu Guangshao, Member of the Standing Committee of CPC Shanghai Committee and Executive Vice Mayor of Shanghai, indicated in his speech that CMIC, on strength of its powerful shareholders and abundant capital, will help SCM to introduce private enterprises and optimize SCM’s capital structure. Meanwhile, SCM will leverage its advantage on domestic and overseas resource matchmaking as well as policy advantages on RMB cross-border investment to help CMIC expand its overseas investment market. Just like “a torch in winter”, the win-win cooperation of SCM and CMIC will be of great significance to Shanghai’s economy and Shanghai’s development of an international financial center by effectively promoting the transformation and upgrade of Shanghai’s economy and market service system.

Currently Sailing Capital manages Sailing Capital International Fund, an RMB international investment and lending fund jointly established by SIG and relevant investors according to the guidance of the People’s Bank of China with substantial support of Shanghai Municipal Government and relevant ministries and commissions of the state, aiming to provide a commercial and market-based platform and professional investment and financing services for domestic enterprises in overseas investment, merger and acquisitions, and to promote cross-border flows of RMB through overseas investment of the companies. The size of the fund now adds up to 50 billion RMB.

China Minsheng Investment Co., Ltd., with a registered capital of 50 billion RMB, is established by All China Federation of Industry and Commerce and approved by the State Council of China. It is the only large scale private investment group with “China” in its name. The establishment of CMIC is a milestone of the development of China’s private economy and meets the demand of the new norm of China’s economy. The mission of CMIC is to gather and lead private capitals of China and promote the structural transformation and upgrade of the industry. Since its establishment, CMIC has fastened its pace in industrial integration with a high starting point, based on its positioning of combining the industrial and financial sectors, CMIC has made major headway in photovoltaic industry, modern logistics, general aviation and overseas expansion etc.