Hao Peng Meets with Lawrence Culp, GE Chairman and CEO

Hao Peng, Secretary of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) Party Committee and Chairman of SASAC, met with a General Electric delegation led by Lawrence Culp, the company's Chairman and CEO, in Beijing on July 15.

Hao Peng, Secretary of SASAC Party Committee and Chairman of SASAC, meets with a GE delegation led by Lawrence Culp, the company's Chairman and CEO, in Beijing on July 15. [Photo/sasac.gov.cn]

The two sides exchanged views on issues such as deepening the pragmatic cooperation between Chinese central SOEs and GE as well as the joint participation in building the Belt and Road.

Hao briefed the delegation on the reform and development of Chinese state assets and SOEs, saying that the meeting between Chinese President Xi Jinping and US President Donald Trump at the G20 summit held in Osaka offered direction for the development of bilateral relations and the cooperation between Chinese central SOEs and American companies.

Chinese central SOEs and GE have conducted fruitful and mutually beneficial cooperation in the fields of power generation equipment manufacturing, new energy, aviation and medicine over the years, he noted.

Chinese central SOEs, as independent market players, will continue to deepen the reform, improve their international operation and achieve high-quality development, he said.

He went on to say that SASAC encourages and supports Chinese central SOEs to improve their cooperation with American companies including GE and realize mutual benefits and win-win results in accordance with the principles of market-oriented and law-based operations.

Culp said GE has been supporting free trade and fair competition, and will continue to uphold this principle.

China's development, reform and opening-up measures provide enormous  opportunities for companies from the rest of the world to invest in the country, he noted, saying that GE hopes to actively participate in building the Belt and Road, continue to expand investment in China, strengthen cooperation with Chinese central SOEs, and play an active role in the sustainable and healthy development of China's economy.

(Executive editor: Hao Wen)