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COMAC signs Strategic Cooperation Agreement with PICC

Last Updated (Beijing Time):2017-12-22   Source:News Center of COMAC
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Site of signing ceremony.


Commercial Aircraft Corporation of China, Ltd. (COMAC) signed a Strategic Cooperation Agreement with The People's Insurance Company (Group) of China Limited (PICC) on December 22nd, 2017 to further deepen industry integration and cooperation and better serve and promote the trunk liner career of China. Mr. Miao Jianmin, Secretary of the Party Committee of PICC, and Mr. He Dongfeng, Chairman and Secretary of the Party Committee of COMAC, attended the signing ceremony and made speeches. Mr. Sheng Hetai, Vice President of PICC, and Mr. Wu Guanghui, Vice President of COMAC, placed their signatures on the agreement.

In his speech, Mr. He Dongfeng extended gratitude to PICC for their long-term support to COMAC in the research and development of aircraft programs. He expressed that the signing of this agreement was a concrete manifestation of implementing the requirements of "implementing the new development concepts, and developing a modernized economy" put forward by the 19th National Congress of the Communist Party of China (CPC), an important step for financial institutions to support the national strategic emerging industries and the real economy, and an important symbol for the cooperation between both sides to reach a new stage. It would give fresh impetus to the research and development of aircraft programs as well as the development and construction of COMAC. The cadres and workers of COMAC would be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and strive to write a new chapter in the trunk liner career with the kind attention of the CPC Central Committee and the State Council and the generous support of all partners.

Mr. Miao Jianmin congratulated COMAC on its success in the research and development of aircraft programs in 2017, and admired the trunk liner spirits of "struggling hard, tackling key problems, enduring hardship and devoting for a long term". He expressed that it was the vocation for financial institutions to serve the real economy. The trunk liner career had drawn world-wide attention and carried the expectations of the whole nation. PICC would serve COMAC, implement the policies of the CPC Central Committee, and achieve mutual benefits in economy. He hoped that both sides could take this signing as a new starting point to jointly create a model for cooperation between insurance and manufacturing industry and jointly push the trunk liner career to a new level.

It is reported that as the first insurance company in China, PICC has participated in all aviation insurance business of COMAC ARJ21 and C919 programs, borne the largest share of insurance, and provided long-term support for the development of domestic civil aircraft. According to the agreement, PICC will give priority to providing high-quality and preferential insurance services as well as financial support for COMAC; and both sides will conduct in-depth cooperation in insurance business, investment and financing, and overseas resource sharing.

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