Huang Chuping,member of Standing Committee of Provincial Party and secretary of Municipal Party Committee, Hu Wangming, vice manager of Wuhan Iron and Steel Group (WISG) company and Gao Chengcheng, president of Chang’an Trust Company (CAT) attended the unveiling ceremony of fund management companies.

Ma Xiuming, deputy party secretary of Municipal Party Committee and mayor delivered a speech at the signing ceremony. Song Wenbao, member of Standing Committee of Municipal Party and executive vice-mayor hosted the ceremony. Many people were present at the signing ceremony, including Liao Dafeng, Ma Xuejun, Liu Hongzhou, Yuan Weidong, Wang Wanxiu and Wang Juncheng, leaders of Yichang city, Li Jianjun, chief economic manager and general manager of Asset Management Company of WISG Company and Cui Jincai, the president of CAT were present at the ceremony.

It is reported that the total investment of Yichang green development is 20 billion yuan, some of which is for Yichang green development of merges and acquisitions to develop the city’s key enterprises in de-capacity, destocking, deleveraging, lowering costs and improving weak growth areas. Meanwhile, other sub-funds will be established for advancing the development of the related industrial projects in Yichang, including energy conservation and environmental protection industries, new materials and energy industries and other emerging industries and providing financing for construction of Yichang’s infrastructure, modern logistics and cultural tourism.

At the signing ceremony, when he met with the represents from WISG and CAT, Hhuang Chuping stressed that all parties must accelerate the implementation of the strategic cooperation agreement and take it into substantive operation with “confidence, determination, sincerity, patience and perseverance”.Municipal party committee and Municipal government will actively serve as a strong backing for providing the development of the Fund, offer good guidance and support services and jointly boost the green development investment fund be well utilized.

Ma Xuming, on behalf of the Municipal Party Committee and Municipal Government, heartily thanked WISG and CAT Company for their active support to the development of Yichang. He said that we redouble our efforts to treasure the hard-earned opportunities and achievements. The city’s economy had been running stably with good quality in this year. Currently, we raced to seize the opportunity to construct the Yangtze River Economic Zone and the Three Gorges eco-economic cooperation zone. To realize the strategic goals of firstly shaking off poverty as well as comprehensively establishing a moderately prosperous society and the comprehensive strength being the top 50 cities in China and ranking the forefront in central and western cities, we were in urgent need of a large number of well-known enterprises for their deep participation and support. In turn, the transformation and spanning development of Yichang would provide a vast space for all market entities that devoted themselves to Yichang’s development. WISG, the first iron and steel founded after the founding of new China and CAT, the new talent in the field of trust investment were the excellent and well-known enterprises with advanced idea, scientific management and strong strength. Over a period of time, extensive communication and a lot of fruitful preliminary work were carried out by Yichang, WISG and CAT.

Hu Wangming, vice manager of WISG company, said that we were not only concentrated on the production of quality and refined irons and steels, actively adapt to the new trend of social development, work to adjust the industrial structure but also intensively developed the pluralistic industries, forming five industries, including logistics and trade and steel processing, urban construction and environmental protection, urban services, use of resources and new materials and financial. For long-time close cooperation, both sides had established a deep friendship. Yichang’s strong economic strength, favorable investment environment andgreat potential for development provided broad prospects for the bilateral cooperation.The establishment of Yichang green development fund is a major achievement of bilateral cooperation. WISG cherishes this cooperation and earnestly do the related works according to the agreement.

Cui Jincai, president of CAT, thanked the trust of Yichang and WISG. This year marks the 30th anniversary of CAT. In recent years, asset size, business income and return on equity of CAT all rank among the first in the same industry. Under the correct leadership of the Yichang Municipal Committee and Municipal Government and in the sincere cooperation with WISG, CAT believed that Yichang green development fund must be able to be well used and inject new vitality for the take-off of local economy.  (Repoter Zhang Liang, Correspondent Zhang’ aihua)