On December 18, 2020, in order to jointly improve core competitiveness, achieve complementary advantages, coordinate the transformation and upgrading of the transportation equipment industry and the steel industry, and enhance the international competitiveness of the industrial chain, China Baowu Iron and Steel Group Co., Ltd. and CRRC The company signed a strategic cooperation framework agreement at the CRRC headquarters in China.

China Baowu and CRRC have a long history of cooperation, and the two sides have established a comprehensive and stable cooperative relationship. In 2011, Baosteel and the former CSR signed a strategic cooperation agreement; in 2017, CRRC and Maanshan Iron & Steel signed a strategic cooperation agreement.

According to the agreement signed this time, the two parties adhere to the concept and principles of "integrity cooperation, law and regulation, mutual benefit and win-win cooperation, and seek common development" in the ecological circle cooperation and win-win concept and principles, adhere to the combination of short-term goals and long-term goals, and establish long-term cooperation Mechanism, to carry out multi-level, multi-field and multi-form cooperation in the fields of business, technology, smart manufacturing and smart services, and actively explore cooperation in the fields of finance, environmental protection, and the Belt and Road Initiative to promote mutual benefit and common development of both parties.

Liu Hualong, Secretary of the Party Committee and Chairman of CRRC, said that this signing is a new opportunity and a new starting point for cooperation between the two parties. CRRC hopes to strengthen cooperation with Baowu and promote development in all aspects. He said that China Baowu is at the forefront of production and operation, reform, and technological innovation. CRRC hopes to learn from China Baowu and carry out in-depth cooperation in reducing costs, optimizing structure, and expanding markets. He asked relevant units of CRRC to actively connect and follow up related cooperation projects with China Baowu.

The signing of the strategic cooperation agreement this time will lay a solid foundation for the two parties to carry out all-round and multi-field cooperation, and will effectively promote the two parties to achieve win-win cooperation and high-quality development. Editor/Peng Xue