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China Shipbuilding Industry Corp, State Power Investment Corp strike strategic cooperation deal

Xinhua | Updated: 2019-03-11 16:06
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A fishing equipment made by a subsidiary of China Shipbuilding Industry Corp is delivered in Qingdao, Shandong province. [Photo by Zhang Jingang/For China Daily]

BEIJING - China Shipbuilding Industry Corporation (CSIC) and 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 China Power Investment Corporation and State Nuclear Power Technology Corporation, is a top Chinese power generator, according to their official websites.

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