China Minsheng Investment Corp., Ltd. (hereinafter referred to as "CMIG") received distinguished guests from around the world at the Diaoyutai State Guesthouse on 30 January 2015, including former Europe politicians and an America Nobel Laureate, business and financial magnates from Asia, as well as elite Chinese scholars and luminaries from all segments of society. At this splendid event, CMIG announced the official launch of the Global Advisory Council (hereinafter referred to as "GAC"), marking another solid step of CMIG's journey towards internationalization.
CMIG has, since its inception, taken "the full utilization of domestic and overseas resources and markets, and following the national globalization strategy" as its strategic vision, which is based on the growing integration between the Chinese economy and the world economy -- the development of the Chinese economy is exerting a profound impact on the world economy, and vice versa.
CMIG has set up China Minsheng International in Hong Kong and is also actively making arrangements in Singapore, London and other regions to establish its regional headquarters. CMIG stands ready to follow the national "Going Global", "One Road One Belt" strategies and spearhead the "globalization" drive of private capital.
ACFIC Chairman Wang Qinmin offered warm congratulations at the CMIG-GAC Launch Ceremony. He indicated in his remarks that "I'm very delighted to witness the successful launch of the Global Advisory Council by CMIG. It's also a great honor for me to meet members of this high-level team and contribute to the development and growth of CMIG. I have every confidence that CMIG is well-positioned to provide intellectual support for China's private enterprises and Chinese economy thanks to the extensive experience and wisdom of each and every expert has to offer."
Chairman Wang further noted that "CMIG could value and give play to the think tank role of the GAC, and step up efforts in studying and evaluating domestic and overseas economic landscape, industries and markets. Based on target analysis, risk assessment, reasoning and prediction, rational judgment and strategies consulting, CMIG will brainstorm, promote the integration and appreciation of capital, knowledge and economy, advance regional economic communication and cooperation, lead Chinese private companies in 'going global' and keep up with economic globalization as it seeks to contribute its due share to the healthy and sustainable development of the Chinese economy and the world economy as a whole."
Mr. Romano Prodi, former President of the European Commission and former Prime Minister of Italy, also pinned high hopes on the prospects of CMIG-GAC. As a member of the Council, he made a statement on behalf of other members and indicated that "the GAC's mission is truly very important. We should express our beliefs and insights in the most open and free fashion. We need to make a difference in not only the global economy, but also global cooperation."
CMIG Chairman Dong Wenbiao addressed the participants and said that CMIG has shouldered a glorious mission since its very beginning. For that matter, it calls for experts with international horizon and background to guide development orientation, gather capital and raise CMIG’s profile. Today, the GAC's establishment marks a solid step taken by CMIG towards that "I hope the GAC could bring out its best as a great think tank and become the sail and engine as CMIG forges ahead. CMIG is an investment company launched by 59 famous private companies. It is the epitome and representative of China's private economy. Supporting CMIG is equivalent to supporting China's private economy, Chinese economy and China," Dong Wenbiao said.
It's understood that the CMIG-GAC will voice views and opinions for the international macro landscape, overall development strategy, overseas investment strategies and policies, corporate governance and other relevant issues faced by the company's development.
The GAC is comprised of 20 members who are authoritative experts with an eminent reputation and position both at home and abroad. The first GAC has nine foreign experts: Romano Prodi, former President of the European Commission and former Prime Minister of Italy; Dominique De Villepin, former Prime Minister of France; Dhanin Chearavanont, Chairman of Charoen Pokphand Group, Thailand; Stephen Roach, former Chairman of Morgan Stanley Asia; Roland Berger, Honorary Chairman of Roland Berger Strategy Consultants; Stephen A. Orlins, President of the National Committee on United States-China Relations; Robert Engle, 2003 Nobel Laureate in Economics; Kim Seung Yu, former Chairman of Hana Financial Group Inc; and Ron Dennis, Chairman of British East Asia Council and Executive Chairman of the McLaren Technology Group.
Chinese experts of the first GAC include Zheng Jiachun, Chairman of New World Development Company Limited; Yang Xiaoping, Vice Chairman of Chia Tai Group;Li Daokui, Professor of Tsinghua University;Chen Zhiwu, Finance Professor at Yale University; and Zhou Rongsheng, former banker and President of China Trust Commercial Bank of Taiwan, among others.
CMIG-GAC's launch has been highly followed by both the domestic and foreign media. Media groups covered this grand event, including Thomson-Reuters, The Wall Street Journal, Bloomberg, Xinhua News Agency, CCTV and Phoenix TV. William Kazar, senior editor of The Wall Street Journal, the largest finance newspaper in the United States, indicated at the meeting that "CMIG has attracted significant attention from western investors since its founding. We hope to develop a profound understanding about it and report it in the long term to meet our readers' demands for understanding CMIG."
Famous hostess Yang Lan moderated the CMIG-GAC event. She presided the meeting in English throughout the process and said that "it's a great honor for me to host today's grand event. With so many excellent guests gathering together, it definitely shows that this newly-founded company has already been a focus of world attention!" The short yet solemn launch ceremony was followed by the 1st CMIG-GAC meeting where experts actively contributed their ideas for CMIG's development. The meeting was brought to a successful close.