China Shipbuilding Industry Corp., State Power Investment Corp. strike deal

2019-03-11 14:40

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BEIJING, March 11 (Xinhua) -- The China Shipbuilding Industry Corporation (CSIC) and the State Power Investment Corporation (SPIC) have signed a strategic cooperation deal, said the state assets supervising authority.

The move is aimed at promoting mutual benefit and development of the two state-owned companies, according to the State-owned Assets Supervision and Administration Commission of the State Council.

They have vowed to accelerate high-quality growth through cooperation under China's strategy of deepening reform and opening-up and advancing innovation-driven development. Cooperation plans will be implemented in the spheres of the energy industry, civil-military integration, industrial finance and international cooperation.

The CSIC is a leading state-owned business and one of China's largest shipbuilders established in 1999, while the SPIC, established in 2015 through a merger of the China Power Investment Corporation and the State Nuclear Power Technology Corporation, is a top Chinese power generator, according to their official websites.
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