On April 9th, a ceremony for the signing of the Framework Cooperation Agreement between China Business Times and the Sanpower Group was held  in the Reception Room, New Office Building of the All-China Federation of Industry and Commerce (ACFIC). Yuan Yafei, chairman  of the Sanpower Group, and Gao Qinglin, head of the ACFIC's Propaganda and Education Department and president of China Business Times Agency, together signed the Framework Cooperation Agreement between China Business Times and the Sanpower Group. Quan Zhezhu (vice minister of the United Front Work Department of CPC Central Committee and party secretary of the ACFIC), Huang Xiaoxiang (deputy party secretary of the ACFIC and vice chairman of the ACFIC), and Li Lu (member of the ACFIC and vice chairman) all attended the signing ceremony, and witnessed this historical moment together.

At the signing ceremony, secretary Quan Zhezhu emphasized that, “China’s reform is now at a critical stage. Early reform will make us active, but late reform will make us passive. The restructuring of China Business Times by ACFIC and the Sanpower Group will strive to explore the reform of the cultural industry, and will follow modern enterprise management models in maintaining a good direction and market orientation, and is a decision made after assessing and considering multiple enterprises. We believe that the Sanpower Group will boost China Business Times  through  its corporate quality, operating capacity, sincere attitude, and positive energy.”

     

Chairman Yuan Yafei said, “The Sanpower Group has replete practical experience in the restructuring of state-owned enterprises. We are grateful to all leaders for your regard for and trust in us. We will endeavor to manage the China Business Times and launch it to greater heights.”

China Business Times, founded on 6 October 1989, is a national comprehensive economic daily paper answerable to and sponsored by ACFIC, mainly focused on financial reports. Its current circulation totals 400,000 copies.

The signing of the Framework Cooperation Agreement between China Business Times and the Sanpower Group marks the Sanpower Group's formal advance into the cultural industry, symbolizing the sustainable implementation of the Sanpower Group’s strategy  of “diversified investment and professional management”, and indicating that the Sanpower Group has made a significant step forward towards its overall objective of ascending into the “World Top 500 Enterprises”.