On November 7, a collective signing ceremony was held for the state-owned-assets sub-group of the Shanghai Trade Group at the National Exhibition and Convention Center during the Third China International Import Expo (CIIE). Shanghai Electric and Siemens Energy entered into an agreement on the intelligent energy empowerment center. The signing ceremony was witnessed by Mr. Chen Yin, Member of the Standing Committee of the CPC Shanghai Municipal Committee and Executive Vice Mayor of Shanghai Municipal People's Government, Mr. Ma Chunlei, Deputy Secretary General of Shanghai Municipal People's Government, and Mr. Bai Tinghui, CPC Party Committee Secretary and Director of Shanghai Municipal State-owned Assets Supervision and Administration Commission. Mr. Huang Ou, Deputy Secretary of the Party Committee and President of Shanghai Electric, and Mr. Yao Zhenguo, Siemens Energy Executive Vice President and China Head, attended the ceremony.
Intelligent new infrastructure powers and accelerates the upgrade and transformation of China's energy technologies and equipment manufacturing. Both Shanghai Electric and Siemens prioritize digital innovation and new business models in developing themselves and the global energy industry. Leveraging respective advantages, the intelligent energy empowerment center will serve the digitalization and energy industry in China and across the globe.
As China focuses on building new infrastructure and transforming the energy industry, the center will utilize the two's expertise in digitalization and equipment and introduce artificial intelligence and industrial Internet into the production, operations and maintenance, and service of the energy sector. Targeting AI and industrial Internet, the center will become a hub for digitalization experience and industrial incubation in the high-tech industry. When completed, it will offer end customers with digital solutions and customized development service for new scenarios, and create a platform for all to learn about future energy structure and advanced technologies. Backed by the vast energy market in Shanghai and the Yangtze River Delta, the center will cultivate a powerful cluster.
Ms. Yang Hong, Vice President of Shanghai Electric, and Mr. Tang Yucheng, Head of Digitalization of Siemens Energy, signed the agreement.
Siemens Energy AG was listed on the Frankfurt Stock Exchange on September 28, 2020, and started independent operations. On May 1, 2020, Siemens Energy Co., Ltd. was established in the Shanghai Free Trade Zone.