Taking Visionary Actions, Achieving Long-Term Success: Sinopec Capital Annual Forum

 

On December 18th, 2019, Sinopec Capital Annual Forum was held in Beijing. Themed with “Taking Visionary Actions, Achieving Long-Term Success”, the forum focused on deepening the learning from the 4th Plenary Session of 19th CPC Central Committee and Central Economic Work Conference, taking an outlook on the underlining trend of economic growth, sci-tech progress, international capital investment and M&A, mixed ownership reform, sharing valuable experience in promoting the growth of private companies. Over 300 experts, scholars and representatives from the government department and agencies, financial institutions and consulting companies, businesses and Sinopec Group were present at the forum.

(Zhao Dong, Member of the Party Group and CFO of Sinopec Group)

Entrusted by Mr. Dai Houliang, Secretary of Leading Party Members' Group and Chairman of Sinopec Group, Mr. Zhao Dong, Member of the Leading Party Members’ Group and CFO of Sinopec was present at the forum and gave a keynote speech. In his remarks, he pointed out that Sinopec Group set up SBU of Capital Operation and Financial Services in 2018 and registered Sinopec Capital Co., Ltd. in Xiong’an New Area in the same year, with an aim to implement General Secretary Xi Jiping’s instruction. Guided by the instruction, the financial sector shall function to support the physical economy and more efforts shall be stepped up for better quality, higher efficiency, and more robust drivers of economic growth through reform. The state asset supervision shall shift its focus from asset management to capital management. The capital and financial resources shall be mobilized to support strategic layout based on specialized, market-oriented, internationalized investment philosophy and approach. Sinopec Capital identifies strategic investment opportunities through financial investment, serving as Sinopec’s new engine to foster new momentum for transformation and sustainable development. Zhao Dong emphasized that Sinopec Capital has already kicked off its business with a good start, with focus on strategically new industries and supporting the core value chain of Sinopec Group. The recent move in deepening management system reform and establishment of SBU of Capital Operation and Financial Services represent an important step in promoting modernization of corporate governance system and governance capacity.

(Mr. Huang Wensheng, VP and Board Secretary of Sinopec Corp., President of Sinopec Group SBU of Capital Operation and Financial Services, Chairman of Sinopec Capital)

Mr. Huang Wensheng, VP and Board Secretary of Sinopec Corp., President of Sinopec Group SBU of Capital Operation and Financial Services, Chairman of Sinopec Capital made welcome address. He pointed out that Sinopec Capital upholds “One Dream and Two Missions”. By “One Dream”, the Company is registered in Xiong’an New Area, where the future of Sinopec is bonded with that of the Nation. By “Two Missions”, the Company shoulders two grand missions. The first mission is to identify strategic investment opportunities through financial investment, with focus on new energy, new materials, energy-saving and environmental protection, and advanced smart manufacturing, while serving as the new engine to foster new momentum for Sinopec’s transformation and sustainable development. The second mission is to explore a replicable approach in deepening comprehensive reform and building fully market oriented mechanism. The Company has built strategic presence in the afore-mentioned four areas through investment of 6 billion yuan.

Three invited keynote speakers shared the podium on the forum. Fan Gang, independent director of Sinopec Corp., President of China Development Institute, Director General of National Economic Research Institute of China Reform Foundation gave a speech titled “Trade War and Macro-Economy”, elaborating on the status-quo of the trade war, the general picture of the Chinese economy and industry. Mr. Wu Hequan, member of Chinese Engineering Academy, Director General of Standardization Administration of China, Deputy Director General of Advisory Committee of State Information, Chairman of Internet Society of China, elaborated on how information technology supports financial innovation, and shared observation about the empowerment of 5G technology on financial innovation, as well as the function of block-chain on fin-tech. Mr. Kerwin Clayton, co-head of M&A for Asia Pacific at JPMorgan Chase & Co., enlightened the audience with his insights on the underlining trend of M&A and the elements of consideration, highlighting the key M&A subjects for 2019, sharing his outlook on M&A in global and Chinese market. He remained bullish about the unprecedented opportunities in Chinese market.

 (中国石化独立董事、中国(深圳)综合开发研究院院长、中国改革基金会国民经济研究所所长樊纲教授)

(Fan Gang, independent director of Sinopec Corp., President of China Development Institute, Director General of National Economic Research Institute of China Reform Foundation)

(Mr. Wu Hequan, member of Chinese Engineering Academy, Director General of Standardization Administration of China, Deputy Director General of Advisory Committee of State Information, Chairman of Internet Society of China)

(Mr. Kerwin Clayton, co-head of M&A for Asia Pacific at JPMorgan Chase & Co.)


In Dialogue between Capital and Industry, Mr. Tang Xiaodong, President of BlackRock China, Mr. Gao Ling, CIO of Sinopec Capital, Mr. Guo Chunxuan, Chairman of Xinxiang Richful Lube Additive Co., Ltd., Mr. Robin Lin, Chairman and CEO of REFIRE, exchanged views on how capital supports physical economy, how to invest in innovation value chain to support industry value chain, and how to allocate capital investment in innovation, the investment logic and philosophy of state capital, as well as the advantage and effect of synergy between industry and financial sector.

 (Panel Discussion: Dialogue between Capital and Industry)

Sinopec Capital Forum was launched to implement the spirit of “stepping up efforts to build a learning society” and “making China a country of innovators” proposed on 19th National Congress of the Communist Party of China, and to follow through Chairman Dai Houliang’s guidance in supplying and cultivating talents. The forum invites industry leaders and famous experts from relevant fields to give lectures. The forum is held to build a platform of talents and provide access to the latest sci-tech information, industry mega-trend and frontier knowledge. The forum has already become an important platform of innovators and social network where all walks of life mingle together.

Information source:  
2019-12-18

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