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SASAC, SPIC Leaders Inspect SEP Malta Company for International Operation Assessment

From November 17-19, SPIC Vice President Wei Suo and SEP Chairman Wang Yundan accompanied Deng Zhixiong, Chief of Planning and Development Bureau of State-owned Assets Supervision and Administration Commission of the State Council (SASAC), together with his delegation, on a visit to Malta in order to conduct a special assessment on the international operation of SEP's project in Malta. During the inspection, they visited Maltese Prime Minister and Chinese Ambassador to Malta, and also went to D3 Power Generation Limited and conveyed greetings to both Chinese and local staff.

On November 18, Deng Zhixiong went to SEP (Malta) Holding Ltd. (SEPM) to attend a special assessment meeting on the international operation of SEP Malta Project, which was chaired by Wei Suo. According to the requirement of SASAC's international operation indicator assessment form, Wang Yundan delivered a report on the general situation of SEP's international business development and the actual operation conditions of Malta project, with a detailed account of the company's risk control, decision-making procedures, localized operation, PR activities in the process of developing international business as well as the specific practice of Malta project. Deng listened to the report carefully, and highly praised the international operation results achieved by SPIC and SEP on Malta project. He expressed that the success of Malta project is encouraging in that the project not only obtained investment returns, promoted local economic growth, and contributed to Malta's sovereign rating upgrading, but also realized in-depth cultural integration between China and Malta through investment and management. He attributed the project's success to SPIC's strong support, SEP's special attention, as well as correct direction, sound structure, clear target, thorough and detail-oriented planning, and powerful management and control, while the key is conforming to the trend, finding the right direction and partner, establishing a good business model and realizing win-win finally. He fully affirmed the experience and intelligence of SPIC and SEP as well as the proactive and enterprising spirit of Malta project team and their remarkable collaborative development capability, and extended thanks to SPIC and SEP for their exploration in international operation of SOE. Wei Suo summarized the meeting by expressing appreciation to Deng for his praise of SEP Malta project, adding that the successful experience of the project will be promoted within SPIC.  

On the same day, the SASAC inspection team, accompanied by Wei Suo and Wang Yundan, visited Maltese Prime Minister Joseph Muscat, Minister of Energy and Conservation of Water Konrad Mizzi and several government officials, and held discussions on how to attract more excellent centrally-administered SOEs to Malta to establish cooperation with Maltese government in sectors such as aviation, tourism, aircraft operation and maintenance, and logistics. Deng expressed that Malta is located in the strategic hub of "Belt and Road" Initiative and "Three Networks and Industrialization" put forward by the Chinese government, and thanks to SEP's success story in Malta, more and more enterprises will be willing to develop their business in Europe, North Africa and Middle East through Malta. Prime Minister Muscat also expressed hope that Chinese and Maltese enterprises could further cooperate in multiple fields.

During the inspection, Wei Suo and Wang Yundan also accompanied the SASAC inspection team on the visit to Chinese Ambassador to Malta Jiang Jiang and Economic and Commercial Counsellor Qiu Guangling, extending gratitude to the embassy for their long-term support and help to SEPM. Both sides conducted exchanges in potential development projects in economic, political and cultural fields between China and Malta.

All members of the SASAC inspection team, Deputy Director of SPIC Strategy and Planning Department Yuan Xiangdong, Deputy Director of SPIC Policy Research and Intellectual Property Department Liu Wei, and the leaders of SEP International Business Department and SEPM participated in the above activities.

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