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  CNQC Finance Co., Ltd. Opened to the Public, Adding Fresh Blood to the Financial Industry of Qingdao

  On November 23, the unveiling and opening ceremony of CNQC Finance Co., Ltd. was held in Qingdao. The Non-bank Financial Institution Supervision Department of Qingdao Banking Regulatory Bureau issued a financial license to the company. Among those who jointly witnessed the opening ceremony were Zhang Xijun, deputy director of the standing committee of Qingdao Municipal People’s Congress, Li Maodou, the secretary general of China National Association of Finance Companies, and people from the competent authorities like Qingdao Central Sub-branch of People’s Bank of China and Qingdao Banking Regulatory Bureau of China Banking Regulatory Commission, and more than 60 banking financial institutions and cooperators.

  Finance companies shall refer to non-banking financial institutions providing financial management services to member work units of enterprise groups with the aim of strengthening centralized management of the funds of enterprise groups and increasing the efficiency of utilization of the funds of enterprise groups, which are established in accordance with “The Company Law” and “Administration of the Finance Companies of Enterprises Groups Procedures”, and engaged in middle- and long-term financial businesses. CNQC Finance Co., Ltd. is the fifth finance company in Qingdao, and another breakthrough made by the key enterprises of Qingdao in finance field after the finance companies of Haier, Hisense, Tsingtao Beer and Qingdao Port. CNQC, as a leading construction enterprise in Shandong, has seen sustainable, healthy and stable development over the past few years. In 2016 it ranked 77th among the biggest ENR 250 international contractors in the world, and ranked among the top local construction enterprises in China. It is also the first finance company that is set up in the construction sector in Shandong.

  Ding Hongbin, the chairman of Qingjian Group Co., Ltd., made a speech at the opening ceremony. He said that establishing CNQC Finance Co., Ltd. was a major strategic arrangement made by CNQC, based on the industry, to better serve economic and social development, and a beneficial trial and important breakthrough of the company in promoting the combination of industry and finance. It will play an important role in integrating financial resources, strengthening the centralized management of capital, reducing financial costs, improving investing and financing capability and increasing companies’ economic benefits, he said.

  Wan Qingdong, the general manager of CNQC Finance Co., Ltd., expressed thanks to the guests. He said that the company will, for the purpose of “depending on CNQC, serving its main business, regulating operation and pursuing steady development”, seek its own growth within the development framework of CNQC and the financial industry of Qingdao; it will innovate financial services and integrate internal and external resources on the basis of independent and regular operation, and provide precision services for the member units through professional and meticulous operation, to promote the development of the main business and serve the society.


  Zhang Xijun, deputy director of the standing committee of Qingdao Municipal People’s Congress, extended congratulations on the opening of CNQC Finance Co., Ltd. Finance companies are the product of the meticulous management by enterprises groups when their development reaches certain stage, and the four corporate finance companies existing in Qingdao have played an important role in optimizing resources allocation and improving operation efficiency after their establishment, he said. The opening of CNQC Finance Co., Ltd. can not only bring new driving force to the development of CNQC and its member units, but can add fresh blood to the development of the financial sector of Qingdao. He hoped that CNQC would continue to participate in the major infrastructure construction and the development of blue and high-tech industries in Qingdao, and CNQC Finance Co., Ltd. would strengthen innovation and improve its financial service level to contribute more to the economic and social development of the city.