On July 15, the inauguration ceremony of Shanghai Electric New Energy Development Company was held in Shanghai. At the ceremony, Shanghai Electric Group signed a strategic cooperation agreement with Fengxian District. As one of the first projects for the construction in Fengxian New Suburb, it will give a strong impetus to the rapid development of the District in the fields of offshore wind power, solar power generation, international digital sea, regional comprehensive energy planning and reduction of carbon emissions of enterprises, creating a shining model of the smart city in the Yangtze River Delta.

The construction of “Five New Suburbs” is an important initiative of Shanghai to align with national strategies towards China's new development paradigm, as well as a major strategic direction for the city’s future development. As a powerhouse of domestic industry, Shanghai Electric will contribute to the achievement of national carbon peaking and carbon neutrality goals and facilitate the construction of Shanghai’s “five new suburbs” through its high-quality development.

Li Zheng, Secretary of CPC Fengxian District Committee, stated in his speech that Shanghai Electric, as a world-class manufacturer of high-end equipment, is committed to the low-carbon energy transformation and the optimal integration of traditional and new energy sources, which is in line with the green and low-carbon philosophy of Fengxian District. Shanghai Electric New Energy Development Company will inject impetus into the construction of Fengxian New Suburb and its industrial clusters. The two parties will do their best to provide excellent services, work together for a better and smarter future and make greater contributions to the high-quality development of Shanghai.

Leng Weiqing, Secretary of the Party Committee and Chairman of the Board of Directors of Shanghai Electric Group, said that the new strategic cooperation agreement between Shanghai Electric and Fengxian District is an important result of the implementation of the spirit of the 12th Shanghai Congress of the Communist Party of China, and organic integration of efforts for the national caron peaking and carbon neutrality goals and the development of the Group and Shanghai’s “Five New Suburbs”. The development of Shanghai Electric and its new energy business and the new company is and always will be inseparable from the firm leadership of CPC Shanghai Municipal Committee and Municipal Government, the strong support of Fengxian District, and the generous contributions of all partners, including governments at all levels, investors, financial institutions, brokerage firms, think tanks and the media. Shanghai Electric will repay the trust and support of all partners with high-quality development.

Yuan Quan, Deputy Party Secretary and District Chief of Fengxian District, and Liu Ping, Deputy Secretary of the Party Committee and President of Shanghai Electric, signed the agreement on behalf of the two parties.

Leaders of major banks, brokerage firms, trusts and other financial institutions, media guests and relevant leaders of Shanghai Electric Group were also present at the event.