DBS chairman Peter Seah, DBS’s CEO Piyush Gupta and DBS Hong Kong’s CEO Sebastian Paredes visited China Resources Group Hong Kong headquarters and met with Group chairman Fu Yuning. The two sides held extensive and friendly talks on current international and domestic economic situation, China Resources Group’s development strategy, China’s SOE reforms, and the cooperation between DBS and China Resources Group.

Chairman Fu welcomed DBS guests and expressed his thanks to DBS for their great support for China Resources Group. Fu also briefed the guests on the Group’s key future development strategy and corresponding resource allocation. He pointed out internationalization is one of the key strategies China Resources Group adopts in the 13th Five-Year Period. Southeast Asia and South Asia are key areas of the “Maritime Silk Road of the 21st Century”, an integral part of China’s “The Belt and Road Initiative”. Fu hoped that the CR Group would receive the great support from DBS as always.

Chairman Peter Seah briefed chairman Fu Yuning of the investment environment and economic and social progress in ASEAN countries and South Asia subcontinent, and DBS key business in these countries. He said these two areas were lagging behind in infrastructure, industry development and urbanization which provide large space and opportunities for investment. There is room for development for most of China Resources Group’s businesses in these countries. And investment in these areas will receive welcome and gain support from local governments. He suggested China Resources Group could proactively conduct research and seek opportunities while DBS was more than willing to become a strategic partner for China Resources Group’s internationalization drive.

The meeting was also attended by Group Deputy Managing Director Chen Lang and strategy director Chen Ying.