On December 22, 2020, CR Capital Management signed a strategic cooperation agreement with China RE Capital Management Co., Ltd.in Shenzhen. Both parties agreed to establish CR China Re Capital FOF, to invest in industrial funds and high-quality programs that are not only in line with China Resources' main industries, but also fall into key investment categories of China Re Capital, such as comprehensive energy construction and operation, comprehensive urban construction and operation, energy conservation and environmental protection, and consumer health, etc. Upon this agreement, both parties will make full use of their comparative advantages, promote in-depth interconnection and cooperation between insurance funds and China Resources' advantageous industries, and achieve win-win cooperation.
Mr. Carl Qin, the General Manager of CR Capital Management, pointed out in his speech that China Resources Group is the comprehensive fund management platform of CR Capital Management. Relying on the vast operation network, the abundant industrial resources as well as rich capital operation and management experience of China Resources Group, it has initiated and managed industrial investment funds in six sectors including healthcare, consumer products, integrated urban and energy construction and operations, technology and energy conservation and environmental protection. The total capital under its management exceeded 100 billion yuan during the 13th Five-Year Plan period. During the 14th Five-Year Plan period, CR Capital Management will continue to uphold the missions in the industrial strategy of the group and the national development strategies, further focus on the business direction, optimize the business structure, and build a state-owned assets management platform with industry-finance collaboration and the characteristics of China Resources. In order to achieve this goal, the company needs to cooperate with insurance institutions in a more professional, in-depth and comprehensive way. China RE Capital Management has a professional investment team, a huge customer network, and excellent investment performance. Its business scope is highly compatible with and complementary to that of CR Capital Management. He hoped that both sides would take this strategic agreement as an opportunity to boost practical cooperation, and deliver mutual benefit and win-win results.
Mr. Lv Ri, general manager of China RE Capital Management, said in his speech that China Re Capital is a professional fund management institution of insurance private equity approved by the China Banking and Insurance Regulatory Commission, and registered by the Asset Management Association of China. Since its inception, the company (China Re Capital) has been adhering to the vision of becoming an excellent insurance private equity fund management institution, practicing the philosophy of running business in a professional, sustainable, innovative and win-win approach, and insisting on professional and market-oriented operation to meet the innovative allocation needs of insurance funds. China Resources Group is a representative of outstanding state-owned enterprises in China, and CR Capital Management is an excellent state-owned private equity institution broadly recognized by the market. He hoped that through strategic cooperation with CR Capital Management, both companies would achieve resource sharing and mutual support of relative advantages, which would facilitate industrial upgrading, joint development and industrial resource integration of China Resources Group, better implement the national strategy of insurance capital serving the real economy, and establish win-win cooperation between both parties.
The signing ceremony was attended by Carl Qin, general manager of CR Capital Management, relevant team leaders of CR Capital Management Beijing and CR SZITIC investment Co., Ltd, Lv Ri, general manager of China RE Capital Management, Qu Sheng, GM assistant, and relevant team leaders of China RE Capital.
