Chairman ZHANG Qi Attend the Philippines-China Economic and Trade Forum and Signs Memorandum with Filipino Government

August 31st, 2011. As it was invited by the Department of Trade and Industry, Republic of the Philippines and China Council for the Promotion of International Trade, Chairman Mr. ZHANG Qi and vice president Ms. LIU Chunyan attend the Philippines-China Economic and Trade Forum in Beijing.

Vice Premier of the State Council Wang Qishan and Philippines President Aquino jointly attended the forum and gave their remarks in respective. Mr. WANG says China and Philippines has new development opportunities, the two sides shall further tap cooperation potential and expand the bilateral trade. China encourages competitive domestic businesses to invest in the Philippines and take part in the Philippines' infrastructure construction. Addressing the Forum, Aquino noted that the Philippines is definitely open for business. The Philippines government will take steps to encourage the entry of investments in the country, make the registration a lot more benefit for foreign businesses and the Filipino people. He hopes Chinese businesses seize the opportunities to expand investment in the Philippines.

Afterwards, the business representatives from two countries met with Philippines President Aquino, Secretary of the Philippines’ Department of Trade and Industry Mr. Gregory L. Domingo and other Philippines officials.

Witnessed by the Philippines President Aquino, Mr. ZHANG Qi on behalf of Sinoma Energy Conservation Ltd. signed the Investment Memorandum of Understanding with the Philippines’ Department of Trade and Industry. The latter authority vowed to support SEC’s business of energy saving and emission reduction/waste heat recovery in the Philippines which will create certain job opportunities locally.