China Shipbuilding Industry Corp., State Power Investment Corp. strike strategic cooperation deal

BEIJING, March 11 (Xinhua) -- The CHINA Shipbuilding Industry Corporation (CSIC) and the state Power Investment Corporation (SPIC) have signed a strategic cooperation deal, said the state assets supervising authority.

The move is aimed at promoting mutual benefit and development of the two state-owned companies, according to the state-owned Assets Supervision and Administration Commission of the state Council.

They have vowed to accelerate high-quality growth through cooperation under CHINA's strategy of deepening reform and opening-up and advancing innovation-driven development.

Cooperation plans will be implemented in the spheres of the energy industry, civil-military integration, industrial finance and international cooperation.

The CSIC is a leading state-owned business and one of CHINA's largest shipbuilders established in 1999, while the SPIC, established in 2015 through a merger of the CHINA Power Investment Corporation and the state Nuclear Power Technology Corporation, is a top Chinese power generator, according to their official websites.