On June 20, the first large-scale investment company with the name started with the province name inJiangsu– “Jiangsu Private Investment Holding Co., Ltd.” (Jiangsu Private Investment)- held the formal nameplate unveiling ceremony. Huang Mengfu, vice Chinaman of the tenth and eleventh term of CPPCC and honorary chairman of ACFIC unveiled the nameplate for “Jiangsu Private Investment”; Li Xiaomin, municipal party secretary of Wuxi City and provincial Party committee member of Jiangsu Province, Xu Ming, provincial Party committee member and vice governor and Xu Zhongzi, vice director of provincial Party committee and vice Chairman of ACFIC of the province, attended the ceremony and gave speech; the officials of relevant departments in the province and party committee and government of Wuxi and the private enterprise representatives starting the “Jiangsu Private Investment”, including Jiang Xipei, secretary of the party committee, Board Chairman and CEO of Far East Holding Group, Zhou Haijiang, President of Hongdou Group, Shen Wenrong, Board Chairman of Shagang Group, Zhu Gongshan, Board Chairman of Golden Concord Holdings Limited, etc. attended the event.

Huang Mengfu unveiling the nameplate for “Jiangsu Private Investment”

Li Xiaomin Giving a Speech

Xu Ming giving a speech

Xu Zhongzi giving a speech

With support and attention from provincial Party committee and government of Jiangsu Province and the operation principle of “market operation, enterprises volunteering, ACFIC assisting, government guiding” and ACFIC of Jiangsu Province and coordination by Wuxi City Government, “Jiangsu Private Investment” was founded with initial capital amounting to 8.6 billion Yuan invested by famous enterprises in the province, including Hongdou Group, Shagang Group, Golden Concord Group and Far East Holding Group. The investment of Far East Holding Group is 500 million Yuan, accounting for 5.81%. On April 25, the first shareholders meeting of Jiangsu Private Investment was held and Jiang Xipei was elected to be the supervisor and Chairman of Board of Supervision of Jiangsu Private Investment.

Huang Dongfeng, Board Chairman of “Jiangsu Private Investment”, giving a speech

Shen Wenrong, giving a speech

Signing ceremony (the first on the right of the row behind is Jiang Xipei)

 “Jiangsu Private Investment”, as the only province level private investment company in Jiangsu Province, will activate the advantage of capital, resources and market competition of the private companies in Jiangsu Province to build “four important platforms”, including: comprehensive financial service platform, forming a comprehensive financial service network by investing and holding and participating in the financial institutions such as insurance, securities and banks, etc; industry integrating platform, establishing merging fund and investment fund, working with capital market in integrating traditional industries, supporting emerging industries and participating in mixed reform of state owned enterprises; capital (wealth) management platform, providing value added service for properties and wealth of the investors with financial service function; international investment platform, corresponding actively to the national strategy of “The Belt and Road Initiative” and “going out strategy”, cooperating the entities to carry out international investment, oversea merging, etc. to evolve and develop the industries with capital.

In addition, “Jiangsu Private Investment” also shoulders the mission of “serving transformation and upgrading of the companies inJiangsuand promotingJiangsueconomy” and strives for the vision of “growing into the top class comprehensive capital financing investment group inChina”.

On the nameplate unveiling ceremony, Li Xiaomin, municipal party secretary of Wuxi City and provincial Party committee member of Jiangsu Province, expressed that: Wuxi City will carry out the strategy plan of supporting the development of “Jiangsu Private Investment” determined by the province Party Committee and government, value the opportunity of cooperation, implement relevant policies, provide comprehensive, customized and one-to-one service and create sound “atmosphere” and “soil” for development of “Jiangsu Private Investment” in Wuxi. He also hopes that “Jiangsu Private Investment” would invest more money and attention to Wuxi and put more large-scale and good projects in Wuxi, gather more social capital and high-level talents in Wuxi, promote and assist the industry transformation in Wuxi and even across the province and achieve mutual winning and development. Xu Ming, provincial Party committee member and vice governor, hopes that “Jiangsu Private Investment” will take advantage of capital, platform and system, serve and fit in the development strategies of the country and the province, implement project jointing actively, promoting project cooperation, strive to innovate cooperation mode and spare no efforts to create a platform based in Jiangsu and aimed to the financial investment, industry integration and capital management in Chin and international investment. Xu Zhongzi, vice director of provincial Party committee and vice Chairman of ACFIC of the province, hopes that “Jiangsu Private Investment” will originate from Jiangsu business and serve the Jiangsu business and strive to become the top class of private union in China and make contribution for economic and social development of Jiangsu.

Far East Holding Group insists on the strategy of “Owner+ investment” and it’s an important step for the company’s development strategy to invest in “Jiangsu Private Investment”; in the future, Far East will explore the business field with assistance from the platform to combine industry operation with capital operation, improve the core competitiveness and profitability of the company; in addition, the platform will promote Far East to march to the target of “global investment management expert” through the flexible investment systems and methods such as equity investment, merging investment, etc.

Group photo (the fourth on the right of the second row is Jiang Xipei)