On January 26, Cao Peixi, President, and Guo Junming, CFO of China Huaneng Group met with Prem Watsa, Chairman and CEO, and Bradley Martin, Vice President and COO of Canada-based Fairfax Group. The two parties exchanged on further strengthening cooperation in financial fields.
Cao Peixi introduced Huaneng's achievements in energy conservation, emissions reduction, financial services development, and overseas projects during the 11th Five-year Plan period. He said, as Asia’s largest and the world’s second largest power producer, China Huaneng Group witnessed considerable increase of overall strength, competitiveness and anti-risk capability in the past five years. In 2010, Huaneng ranked 313th among Fortune 500 Companies. At the same time, the company has been constantly optimizing its industrial structure and made new breakthroughs in fields including coal, finance and technology etc, which greatly contribute to the improvement of its economic performance.
Cao Peixi said, China Huaneng Group and Fairfax Group have established a sound partnership. During the 12th Five-year Plan period, China Huaneng Group will accelerate implementation of the "Go Global" strategy, and hopes to strengthen cooperation with Fairfax Group in international financial sector, and share information and best practice of each other, so as to realize win-win results, and promote better development of both parties.
Prem Watsa thanked China Huaneng Group for choosing Fairfax Group as a cooperative partner. He said, Fairfax Group has established a close partnership with China Huaneng Group through cooperation. He hoped that the two parties could continue to strengthen cooperation and constantly expand the range of cooperation. Fairfax Group is willing to provide more information and services to China Huaneng Group in terms of property insurance and investment consulting, etc.