Cooperation Upgraded! Further Work Together to Protect the Yangtze River 2019-03-23

On March 22, the World Water Day, there was good news for the landing of China’s water system protection. To promote the protection of the Yangtze River, the China Three Gorges Corporation and Beijing Enterprises Group Company Limited signed an agreement on deepening cooperation at the International Convention and Exhibition Center in Yanqi Lake, Beijing. China Yangtze Power Co., Ltd., and Yangtze Ecology and Environment Co., Ltd. under the China Three Gorges Corporation, and BEWG under Beijing Enterprises Group Company Limited, simultaneously held the signing ceremony of the share subscription and business cooperation agreements. The signing of these three important cooperation agreements marks that the two sides have entered a stage of closer and deeper substantive cooperation in making joint efforts to protect the Yangtze River. A new chapter of all-round cooperation kicks off from the equity, fund, business, dual platform, research and industry alliance.  
▲Sun Zhiyu, Party member and Deputy General Manager of the China Three Gorges Corporation, and Li Yongcheng, Vice Chairman and Executive Deputy General Manager of Beijing Enterprises Group Company Limited, signed the “Agreement on Deepening Cooperation in the Protection of the Yangtze River” on behalf of the China Three Gorges Corporation and Beijing Enterprises Group Company Limited respectively.  
▲Zhao Feng, Secretary of the Party Committee and Chairman of Yangtze Ecology and Environment Co., Ltd., and Zhou Min, President of BEWG, signed the “Business Cooperation Agreement on Making Joint Efforts to Protect the Yangtze River” on behalf of the Yangtze Ecology and Environment Co., Ltd. and BEWG respectively.
▲Xie Feng, Deputy Secretary of the Party Committee of China Yangtze Power Co., Ltd. and Li Li, Executive President of BEWG, signed the “Share Subscription Agreement” on behalf of China Yangtze Power Co., Ltd. and BEWG respectively.  
Before the signing ceremony, the two parties had a discussion. Lei Mingshan,Secretary of the Leading Party Members’ Group and Chairman of the China Three Gorges Corporation, said that it is a new mission and new task given to China Three Gorges Corporation by the state to play a key role in the protection of the Yangtze River, and the China Three Gorges Corporation deeply feels that the mission is glorious and the responsibility is heavy. Beijing Enterprises Group Company Limited is an important platform for the capital’s infrastructure and public utilities to invest and raise funds at home and abroad, in particular, its subsidiary BEWG is the largest water investment and operation group in China’s environmental protection industry, which has rich experience in ecological and environmental protection construction. China Three Gorges Corporation needs such partners as Beijing Enterprises Group Company Limited to deepen cooperation and give full play to their respective advantages to jointly carry out the Yangtze River ecological and environmental protection business, explore new paths and models for ecological and environmental protection in the Yangtze River Economic Belt, and contribute to the return of clean water of the Yangtze River.
Sun Zhiyu, Party member and Deputy General Manager of the China Three Gorges Corporation, pointed out that the China Three Gorges Corporation undertakes national political tasks and has  certain financial advantages; BEWG is a world-class water management company with technical and management advantages, which complement each other and will produce an effect of 1+1＞ 2. He believed that the dual-platform model is a far-reaching layout, and it is necessary to make good use of this model to promote follow-up cooperation. There is a vast business space along the Yangtze River, and the two parties are expected to make good use of their respective layout and advantages along the Yangtze River, actively implement the important instructions of General Secretary Xi Jinping, and realize the benign and healthy development of the enterprise itself and achieve a win-win situation while completing the political tasks.
Sun Zhiyu, Party member and Deputy General Manager of the China Three Gorges Corporation, pointed out that the China Three Gorges Corporation undertakes national political tasks and has  certain financial advantages; BEWG is a world-class water management company with technical and management advantages, which complement each other and will produce an effect of 1+1＞ 2. He believed that the dual-platform model is a far-reaching layout, and it is necessary to make good use of this model to promote follow-up cooperation. There is a vast business space along the Yangtze River, and the two parties are expected to make good use of their respective layout and advantages along the Yangtze River, actively implement the important instructions of General Secretary Xi Jinping, and realize the benign and healthy development of the enterprise itself and achieve a win-win situation while completing the political tasks.
Tian Zhenqing, Secretary of the Party Committee and Chairman of Beijing Enterprises Group Company Limited, briefly introduced the reform and development of Beijing Enterprises Group Company Limited. Tian Zhenqing said that in the previous phase of cooperation between the two parties, the rigorous work style, solid work attitude, and efficient working style of the China Three Gorges Corporation were admirable. As a local state-owned enterprise, Beijing Enterprises Group Company Limited actively implements the “two mountains” theory, and its subsidiary BEWG has developed into an industry leader. Beijing Enterprises Group Company Limited is willing to give full play to its own advantages, further deepen cooperation with China Three Gorges Corporation, and participate in the protection of the Yangtze River in an all-round way.  It is hoped that the two parties can take water affairs as the starting point to broaden the road of cooperation, and work together to create a model for cooperation between central and local enterprises.  
Li Yongcheng, Vice Chairman, Executive Deputy General Manager of Beijing Enterprises Group Company Limited, and Chairman of the Board of Directors of BEWG reviewed the cooperation history between China Three Gorges Corporation and Beijing Enterprises Group Company Limited. He said that the equity cooperation between the two parties has achieved good response in the capital market, however, in the future, cooperation must be fully implemented in six aspects, which is still a big test for the profession and ability of BEWG. BEWG will make every effort to mobilize various resources to implement them one by one, and meanwhile, it hopes to take this signing as an opportunity to carry out more extensive cooperation on the “Belt and Road” initiative in the future.  
The results of in-depth cooperation are beginning to emerge, and the protection of the Yangtze River is carried out from six major directions
On September 17, 2018, China Three Gorges Corporation and Beijing Enterprises Group Company Limited reached a consensus on the protection of the Yangtze River, and signed a strategic framework agreement with resect to the joint cooperation between the two parties to implement the major decisions and related deployments of the Party Central Committee to promote the development of the Yangtze River Economic Belt. As a flagship environmental protection enterprise of Beijing Enterprises Group Company Limited, BEWG takes a strong responsibility of a state-owned enterprise, mobilizes a large amount of resources and gathers the backbone forces. Since October 2018, it has held many high-level meetings and working group-level meetings with China Three Gorges Corporation, China Yangtze Power Co., Ltd., and Yangtze Ecology and Environment Co., Ltd. They carried out in-depth discussions on the contents, methods and next steps of work of cooperation in the six directions of equity, funds, business, dual platform, research and industry alliance, reached a preliminary consensus and formed a batch of fruitful phased results.  
The cooperation between the two parties has been accelerated, with emerging results. At the beginning of this year, a cooperation brought major benefits and boosted confidence in the environmental protection market. China Yangtze Power Co., Ltd. and BEWG have successively issued important announcements: “China Yangtze Power Co., Ltd. will subscribe 470 million ordinary shares newly issued by BEWG with the wholly-owned subsidiary China Yangtze Power International Co., Limited as the main body”. On the same day, Yangtze Ecology and Environment Co., Ltd. and BEWG signed a business cooperation agreement on the proposed cooperation. On March 18, 2019, BEWG officially announced that the share placement has been completed.
Pilot cities “emerged”, with the escort of “dual platform mode”
Prior to this signing, Yangtze Ecology and Environment Co., Ltd. and BEWG have conducted in-depth research on cooperation in urban cooperation, technological research, and co-building industry alliances, etc. Up to now, the two parties have selected pilot cities along the Yangtze River in a targeted manner, and are further studying the technical routes based on the different characteristics of water treatment and pollution control in different cities, and are planned to form systematic solutions and a new model and mechanism that can be promoted, replicated and sustainable to contribute to the clean water of the Yangtze River and the ecological restoration of the Yangtze River Basin. They also have clearer steps and time plans for promoting  cooperation by adopting the “dual platform model” of asset management and operation management. In the future, the two parties will fully stimulate their respective corporate advantages, and efficiently integrate state-owned capital strength and professional capital management capabilities to better serve the protection of the Yangtze River.
The so-called dual platform model refers to the joint establishment of an asset management platform as an investment vehicle for both parties to jointly promote the protection of the Yangtze River; jointly establish an operation management platform as the carrier for joint expansion projects and professional operation projects. The former is held by Yangtze Ecology and Environment Co., Ltd. With stronger financial strength, and the latter is led by BEWG with rich professional experience.
The signing of the three agreements on deepening cooperation on joint protection of the Yangtze River on the World Water Day is of great significance. The Yangtze River, with its unique ecosystem, is an important ecological treasure house in China. Protecting the Yangtze River is an inherent need and inevitable choice for the Chinese nation to seek high-quality development. This signing ceremony shows that China Three Gorges Corporation and Beijing Enterprises Group Company Limited have attached great importance to the implementation of General Secretary Jinping’s ecological civilization thoughts, and cooperation on fulfilling the important mission and tasks of “joint protection of the Yangtze River” by centering on the national development strategy of the Yangtze River Economic Belt, and also demonstrates full recognition of the previous phased results and the strong confidence and determination of the two parties for follow-up cooperation.   
Ma Zhenbo, Secretary of the Party Committee and Vice Chairman of China Yangtze Power Co., Ltd., Wu Jingkai, Director of the Strategic Planning Department of China Three Gorges Corporation, Zhang Chuanhong, Deputy Director of the Asset Finance Department of China Three Gorges Corporation, Hao Wei, Deputy General Manager of Three Gorges Capital Holdings Co., Ltd., Xu Bo, Deputy Secretary of the Party Committee and Vice Chairman of Beijing Enterprises Group Company Limited, Zhang Yong, Assistant to the General Manager of Beijing Enterprises Group Company Limited and Director of the Secretariat of the Foreign Affairs Committee, Yu Liguo, Senior Vice President of BEWG, Zhang Tiefu, Vice President of BEWG, Ji Jun, Director of the Office of Beijing Enterprises Group Company Limited, Zhu Yinghu, Deputy Director of the First Division of the Secretariat of the Foreign Affairs Committee of Beijing Enterprises Group Company Limited, Ma Yuntong, General Manager of the Market Investment Center of BEWG, etc. attended and witnessed the signing ceremony.