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CNIC Holds 2018 Global Investment Symposium

CNIC Corporation Limited held the 2018 Global Investment Symposium in Beijing on January 18, 2018, at which it reported its five-year corporate results.
This event was attended by former and current directors and supervisors of CNIC, representatives of CNIC’s share-holding companies and cooperative agencies, partners at Guotong Fund and leaders of its cooperative enterprises.
On behalf of CNIC, Chairman Liu Dongsheng first extended welcome and expressed gratitude to the attendees. He briefed everyone on the sustainable development of Chinese outbound investment and analyzed problems in rapid development and challenges and difficulties facing Chinese enterprises developing business overseas.
Liu said that since establishment, CNIC has been staying true to its mission by following the Belt and Road initiative and contributing to China’s efforts in global cooperation on production capacity. This event was aimed at providing an opportunity for CNIC’s partners and topnotch private equity (PE) firms to share experiences and information with each other so as to better promote cross-border investment businesses of Chinese and foreign enterprises and institutions, cope with challenges brought by increasingly complicated and changeable international political and economic settings, and share opportunities provided by economic globalization.
Li Bing and Lin Qingmiao, Director General of the Bureau of Capital Operation and Returns Management and Deputy Director General of the Bureau of Enterprise Reform of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, respectively, made important speeches at the symposium, giving some suggestions to the company’s future efforts in the light of the operation and management of state-owned capital and the internationalization of state-owned enterprises (SOEs). They hope CNIC to further improve efficiency and increase returns of state capital and put more efforts into the value-added management and liquidity of projects invested in an attempt to make greater achievements in supporting the internationalization of Chinese enterprises.
David Rubenstein, Co-founder and Co-CEO of The Carlyle Group, and James Coulter, Co-CEO and founding partner of TPG Capital, made keynote speeches themed on “Global Investment Strategy in the Cyclical Tightening and High-valuation Environment”, and discussed global investment with Huang Guobo, CNIC’s Chief Investment Officer.
Mr. Rubenstein shared his insights into the history and prospect of the global PE industry. He mentioned that the assets under management of PE agencies and the capital available for investment had increased significantly. In the future, PE investment may transfer from an “alternative” investment to a “mainstream” one.
Mr. Coulter thought that the PE market would develop rapidly in the future: long-term large-scale funds including sovereign wealth funds, state-level pension funds and high net worth individuals-specific funds are coming into the market, and the secondary market participation mode changes from active management to exchange traded funds-led passive tracking. Mr. Coulter also shared new ideas and models of cooperation between foreign PE agencies and Chinese enterprises.
The subsequent round-table session which was divided into two parts was joined by 11 representatives of CNIC, CNIC’s SOE partners and financial institutions. These speakers shared their experiences on cross-border mergers and acquisitions (M&A) and ideas on how to connect financial services to the real economy.
At the sub-session themed on “Cross-border M&A Experience Sharing”, representatives of China National Petroleum Corporation, China Three Gorges Corporation, China Minmetals Corporation and China National Chemical Corporation shared their experiences and operational approaches in cross-border M&A and discussed future investment and how to improve Chinese enterprises’ M&A capabilities. 
At the sub-session themed on “Connecting Financial Services to the Real Economy”, representatives of Shanghai Pudong Development Bank, China CITIC Bank and China Merchants Bank talked about financial institutions’ strategic deployment and development plans in internationalization as well as the diversified ways of supporting Chinese enterprises in going global. They also shared ideas on the new measures for equity investment taken by financial institutions and these institutions’ consideration of screening investment targets. Financial institutions’ steps and services to avoid risks caused by floating exchange rates and the progress of RMB internationalization were also discussed.