OREANDA-NEWS. August 17, 2012. Liu Deshu, President of Sinochem Group, met with Zhang Jie, Chairman of China Hi-tech Group Corporation (Hi-tech Group in short). They made full and in-depth communications on the topics of current economic situation, development of the enterprises and further cooperation, reported the press-centre of Sinochem. 

According to Mr. Liu, Sinochem Group, similar to Hi-tech Group, is also a Central SOE. As a subsidiary of Sinochem Group, Far East Horizon Limited (Far East Horizon in short) which was listed in Hong Kong shares the same company philosophy with the enterprise affiliated with Hi-tech Group, thereby both companies supplementing each other in business development. He also hoped that both sides can seize the opportunities to cooperate in wider fields at a deeper level, realizing sustainable development with generous returns. Chairman Zhang Jie expressed his thanks for the support given by Sinochem Group to Hi-tech Group in its business development for so long a time, and hoped that the cooperation among relevant departments between Far East Horizon and Hi-tech Group can stand as a model for such cooperation between state-owned enterprises.

After the conference, President Liu Deshu and Chairman Zhang Jie jointly witnessed the signing ceremony of the strategic cooperation agreement between Far East Horizon and the Textile Machinery Department of Hi-tech Group. Kong Fanxing, Vice-chairman of the board of directors and CEO of Far East Horizon, and Ye Maoxin, Vice-president of Hi-tech Group and CEO of the Textile Machinery Department inked the cooperation agreement on behalf of both sides. In accordance with the agreement, both sides should give full play to their respective strengths to enhance the cooperation between financial market and industrial market and push forward the rapid development of China’s textile industry.

As the only Central SOE centering on textile equipment manufacturing, Hi-tech Group ranks first in domestic textile machinery industry in terms of its comprehensive strengths, and ranks first in global textile machinery field in terms of business scales. As a core enterprise of Sinochem Group in the finance industry, Far East Horizon is a leading integrated financial service enterprise in China, engaged in many fundamental fields such as medical treatment, printing, shipping, construction, industrial equipment, education, textile and information network to conduct integrated industrial operation services including finance, trade, consultation and investment.