Zhejiang CRRC Smart Valley Innovation Center Project has Commenced Construction

On April 15, 2021, Chairman Wei Jianhua and his delegation from CCUI were invited to attend the groundbreaking ceremony of the Zhejiang CRRC Smart Valley Innovation Center (Phase I) construction project in Haiyan, Zhejiang for the second quarter of 2021. This event marks the official commencement of a significant strategic industrial project for China National Investment and Guaranty Corporation.

The Zhejiang CRRC Smart Valley Innovation Center project is jointly developed through investment by CRRC Capital Holdings Co., Ltd., China National Investment and Guaranty Corporation, and Shanghai Haimei Investment Holdings Co., Ltd. This project aims to leverage the advantages of CRRC Group, China National Investment and Guaranty Corporation, and Haimei Holdings in the industrial and financial sectors. It follows the "fund + base" model to create a technology research and development, incubation acceleration, and production manufacturing integrated innovation center, providing a platform for nurturing new industries. The project covers a total area of 263 acres with a total investment exceeding 5 billion RMB and will primarily focus on building high-end equipment manufacturing, sensor and avionics industry regional headquarters, production bases, and research and development facilities.

The first phase of the project will introduce industries including general aviation, unmanned aerial vehicles, carbon fiber, integrated avionics, rail transportation maintenance equipment, rail transportation technology, new energy technology, IGBT new materials, sensors, and more. The China Alpes Aviation Industry project and the Beijing Pureland Shock Absorber project, in which China National Investment and Guaranty Corporation has invested, will be among the first major industrial projects to establish a presence in the park.

The event was attended by Chen Lingfang, Secretary of the Haiyan County Committee of the Communist Party of China, as well as Wang Suishe, Deputy Secretary of the County Committee, County Mayor, and Secretary of the County Government Party Group. Chairman Wei Jianhua held in-depth discussions with the attending leaders and expressed heartfelt gratitude for the support of the Jiaxing Municipal Government and Haiyan County Government for the Science and Innovation Center project. All parties highly recognized the promising development prospects of the Science and Innovation Center and the industrial projects that are settling in, within the context of the national "Fourteenth Five-Year Plan" and "Yangtze River Delta Integration" strategies.

Following the event, the delegation from China Hi-Tech Group conducted an inspection of the office location of Shanghai CRRC Sci-Tech Innovation Sea-Economic Development Co., Ltd. in Baibu Economic Development Zone, Zhejiang. Chairman Wei Jianhua engaged in in-depth discussions with the heads of the enterprises in the park regarding cooperation projects and emphasized the requirements for high-standard planning, high-quality construction, and all-encompassing services. He expressed the ambition to turn the Zhejiang CRRC Smart Valley Sci-Tech Innovation Center project into a benchmark project, highlighting the strengths of CRRC Group, China Hi-Tech Group, and Haimei Holdings in "advantageous cooperation, blending finance with industry, and promoting industry through finance." The goal is to support and drive the development of a new round of urban, economic, and industrial growth in Jiaxing, Zhejiang.

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