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Strategic cooperation between CITIC Trust and China Guodian Corporation continues to deepen. Recently, the two sides have jointly founded Zhongdian Asset Management Co., Ltd to manage Zhongdian Energy and Environmental Protection Fund that is to be launched shortly.

According to the Strategic Cooperation Agreement signed last September between CITIC Group and Guodian Corporation, the two sides will work closely in several areas such as trust, bank-enterprise cooperation, investment banking, and resources development in a bid to promote complementarity, reciprocity and mutual development. Establishment of the joint venture is an important step after the signing of the agreement.

Zhongdian Energy and Environmental Protection Fund is China’s first industrial fund jointly launched and run by a financial corporation and an industrial group. It will invest in power, energy and other basic state-encouraged industries. Investment projects mainly involve power plants and coal mines that have already started operation, and related supporting equipment and services. Through the fund, investors can get access to Guodian’s project resource and benefit from the stable growth of the country’s energy industry.

Each side has 50% of the joint venture. They will take advantage of their own expertise to realize the integration of financial capital and energy industry. CITIC Trust boasts rich experience in fund raising and asset management, while Guodian has strong advantage in providing, developing and selecting energy projects.