Green Finance Leading the Future of the Industry

Industry and finance working together to deliver more results with Ningxia GCL Financial Holding Co., Ltd. incorporated

On 20th July, Ningxia Nongxin Financial Holding Investment Management Co., Ltd. was incorporated in Yinchuan, jointly set up by GCL Financial Holding and Ningxia Nongken Financial Holding. Both parent companies will use this company as a platform for collaborating in financial licence application etc. It also represents that the partnership between GCL Group and Ningxia Nongken Group has embarked on a journey of combination between industry and finance.  Cui Nairong, CEO of GCL Financial Holding, and VP Jiang Tao made a special trip to Ningxia in order to provide guidance for this project, while meeting with the leadership of Ningxia Nongken Group, including Yang Tuo, chairman of the supervisors.

Nongken Group is the leading player of modern agricultural SOEs in Ningxia.  The collaboration between Nongken Group and GCL Group has been through long discussions under the devoted support by major leaders from both sides.  Back in 2014, the two parties already started high-level contact to develop mutual understanding and to connect the strength of both sides, in order to explore collaboration potentials. In October 2015, Chairman Zhu Gongshan and his team visited Ningxia NongKen, and reached multiple agreements with Nongken Group leadership including the party leader Wang Yongzhong.

In March this year, a team led by Zhu Gongshan along with GCL CEO Shu Langen visited Ningxia Nongken once again.  The two parties co-developed a blueprint for the in-depth collaboration in the financial area. Since then, the two parties has started to connect with clearer collaboration targets and implementation steps. In June, Yang Tuo, Chairman of supervisors of Nongken Group, led a team to pay a special visit to Shanghai.  He met with CEO Shu Langen, and had fruitful discussions on the incorporation of a JV and future partnership development strategy etc., paving the way for the successful launching of NongXin Financial Holding.

On 18th July, a team formed jointly by the financial budgeting department and capital department of GCL Financial Holding visited Yinchuan, and completed all the procedures required for business registration and obtained the business licence of Nongxin Financial Holding. At the same time, Cui Nairong, CEO of GCL Financial Holding, and VP Jiang Tao went to Ningxia to provide guidance and met with leadership including Yang Tuo, chairman of the supervisors. Yang Tuo commented that the establishment of the JV indicates that Nongken and GCL Financial Holding are truly one family now. The positioning of the JV is to support the development of the industrial businesses.  Working together with GCL Financial Holding is also a process of learning.  The next step will be to combine finance and industry and see some good work done.  The two parties are absolutely in line with this plan. CEO Cui Nairong also commented that the opportunity presented in the combination between industry and finance represents a step change.  Linked by finance, the two parties will have more and more interactions in future with increasingly smooth collaborations. VP Jiang Tao further commented that the two parties will now be united as a family to working together towards a common goal.

During the visit of Yinchuan, Cui Nairong, Jiang Tao and the team also paid a visit to GCL New Energy Ningxia Company.