On August 6, HE Hongxin, Assistant President of China Three Gorges Corporation (“CTG”), Secretary of Party Committee and Vice Chairman of China Yangtze Power Co., Ltd. (“CYPC”), conducted an inspection at CYPC Investment Management Co., Ltd. (hereinafter referred to as “the Company”). During the inspection, HE received a briefing on work progress of the Company and put forward requirements for its work in the next stage.

HE Hongxin fully recognized the achievements attained by CYPC Investment Management Co., Ltd. in its preliminary work as well as the sound morale of its workforce. HE noted that as a premium industrial investment platform under CYPC, CYPC Investment Management Co., Ltd. shall further enhance capacity building, forge ahead with determination, and strive to strengthen and improve the Company’s investment business segment.

HE Hongxin stressed that advancing the optimization and integration of the investment segment serves as a concrete manifestation and important benchmark for the Company to implement the requirements of the educational campaign on fostering and practicing a correct view of political achievements. He put forward the following requirements for the Company: It shall firmly enforce the requirements issued by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and both CTG and CYPC on the management and control of equity in invested enterprises. It shall strengthen standardized whole-process management of equity participation investment, and effectively safeguard the rights and interests of state-owned assets. At the same time, it shall stay focused on its primary responsibilities and core businesses, closely align itself with CYPC’s hydropower business, and clarify its strategic orientation to ensure that capital is accurately deployed to core business segments. It shall prioritize safe development, conduct investment activities prudently after thorough planning, and step up efforts in disposing of existing assets. In addition, it shall prioritize improving Party conduct and fostering integrity, standardize procedures for investment decision-making, and tighten management and supervision over dispatched equity representatives to build a solid line of defense against corruption across the entire chain and uphold the bottom line of integrity in the operation of state-owned assets.

The inspection was joined by YUAN Yingping, Deputy Secretary of Party Committee and Chairman of Trade Union of CYPC, together with heads of relevant departments and entities. The subsequent symposium was attended by the members of the management team of CYPC Investment Management Co., Ltd. and heads of all its departments.