OREANDA-NEWS. May 30, 2011. Baosteel Group Corporation and Harbin Electric Corporation held strategic cooperation framework agreement signing ceremony at Baosteel Tower. Both sides said this was a strategic plan to consolidate the long-term cooperation between the two sides and enhance the development potential. The two sides pledged to carry out closer cooperation and further consolidate and expand the advantage in their respective areas, reported the press-centre of Baosteel. 

Baosteel Group Chairman Xu Lejiang, HPEC chairman and Party secretary Gong Jingkun attended the signing ceremony and delivered speeches. Baosteel Group Corporation general manager He Wenbo and HPEC general manager Zou Lei signed the agreement. representing the two sides. Baosteel Co.,Ltd. general manager Ma Guoqiang, deputy general manager Jiang Licheng, HPEC Power Equipment Co.,Ltd. deputy general manager Zhang Haiquan HPEC Boiler Co.,Ltd. chairman and general manager Wang Dexing and the people responsible of both parties attended the signing ceremony. The ceremony was presided over by Baosteel deputy general manager Wang Jing.

Harbin Electric Corporation is China's largest research and manufacturing base of power generation equipment, marine power devices, power-driven equipment and one of key state-owned enterprise groups which exports complete sets of equipment. Currently, the Corporation has formed eight leading products: nuclear power, hydropower, coal, gas power, wind power, marine power plant, electrical drives, power plants turnkey projects and is one of the few enterprises in the world that can  independently construct nuclear power primary equipment. Baosteel and Harbin Electric Corporation's friendly relations and cooperation has a long history. Both sides have been each other's customers and suppliers.

According to the agreement, both sides will follow the principle of "strategic cooperation,  pursuit of win-win situation, joint research and development, advantage fusion; mutual benefit, timely security, swift information flow, convenient communication, emphasis on practicality and mutual development". Through a close coordination mechanism, both sides will carry out deeper and wider cooperation and exchange in technical collaboration, economic and trade cooperation, internal construction, etc., learn from each other and jointly improve their overall competitiveness.

Gong Jingkun said in his speech that HPEC's rapid development was inseparable from the Baosteel's strong support. "Baosteel  has a strong competitive edge and influence in steel industry, is a banner of central enterprises and is HPEC's model. He hoped that they could take this signing as an opportunity to further cooperation between the two sides.

Xu Lejiang said in his speech that Baosteel Group and HPEC's establishing strategic cooperative relations was the result of mutual wish and effort of both parties. "As central enterprises, both play an important role in the national economy and have common mission. Their cooperative relations have great significance." He hoped the two sides would further expand and deepen their cooperation in various fields of common interest, play the leading role of the central enterprises, jointly develop domestic and foreign markets, resist the market risk and create success.