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China Post and China Huaneng launch long-term strategic cooperation
China Post and China Huaneng launch long-term strategic cooperation
| China Post |2021-12-21

Recently, China Post Group Co., Ltd. (hereinafter referred to as China Post) and China Huaneng Group Co., Ltd. (hereinafter referred to as China Huaneng) signed a strategic cooperation agreement. The two parties will carry out long-term strategic cooperation in finance, energy, logistics, rural revitalization, corporate culture construction, etc., in order to give full play to the resource advantages of both parties in their respective fields, promote the realization of the strategic goals of "carbon peak and carbon neutrality", and set an example of cooperation in clean energy.

China Post and China Huaneng are both key state-owned enterprises with their own distinct advantages in different fields. The cooperation of the two sides has broad prospects with their complementary advantages and strong synergy in the fields of energy, logistics, and finance. In accordance with the principles of complementary advantages and mutual benefit, and guided by the goals of "carbon peak and carbon neutrality", the the two parties decide to carry out long-term strategic cooperation, jointly implement the new development concept, and give full play to their respective advantages in industries, resources, and markets. They will promote high-quality development for the enterprises by means of deepening industrial alignment, innovating cooperation models, and carrying out multi-channel, multi-field, multi-level all-round and in-depth cooperation.

According to the agreement, for the financial field, the two parties will deepen cooperation in financing, cash management, e-CNY, trade finance, full-industry chain finance, and insurance agency business. For the energy field, they will strengthen the cooperation in energy infrastructure construction, comprehensive energy service system, diversified energy supply and demand, carbon peak and carbon neutrality. For the field of logistics, China Post will provide China Huaneng with logistics and express services. The two sides will also cooperate in rural revitalization and corporate culture construction.

China Huaneng is a key state-owned company established with the approval of the State Council, and has been a banner for the country's power industry. As of the end of June 2021, the total assets and financial management assets exceeded more than 3 trillion yuan (about 471 billion US dollars), and it ranked 248th on the Fortune Global 500 list in 2021.

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