On October 15, COSCO SHIPPING Development Co., Ltd. (hereinafter referred to as “COSCO SHIPPING Development”) signed a cooperation agreement on green and low-carbon development with China Baowu's Ouyeel Company Limited (hereinafter referred to as “Ouyeel”). Mr. Zhang Mingwen, Chairman, Secretary of the Party Committee and General Manager of COSCO SHIPPING Development, and Mr. Lv Jun, Chairman, Secretary of the Party Committee of Ouyeel attended and witnessed the signing. Mr. Yu Zhen, Deputy General Manager of COSCO SHIPPING Development, and Mr. Wang Xiaogan, Senior Vice President of Ouyeel, signed the agreement on behalf of both parties.

According to the agreement, the two sides will jointly promote carbon footprint (CFP) and environmental product declarations (EPD) cooperation, strengthen supply chain synergies such as container steel R&D and application, and further promote cooperation in green intelligent logistics, resource recycling and other related industries.

The signing of this agreement is a concrete practice to implement the national green and low-carbon strategic deployment, refine and implement the spirit of strategic cooperation between China COSCO SHIPPING and China Baowu Group, and promote the green and low-carbon transformation and development of the container industry chain. Taking this opportunity, the two sides will establish a more comprehensive and long-term cooperative relationship, jointly explore new paths and new modes of green and low-carbon development, contribute wisdom and strength to the green development of the industry chain, set up a model of green and low-carbon cooperation, and boost the high-quality development of the container industry chain in the field of green and low-carbon.

Before signing the contract, the two sides held friendly talks, exchanged their respective operation and development situations and green industry layout, and discussed in-depth cooperation in green and low-carbon fields in the future. As a shipping production and financing operation platform under China COSCO SHIPPING, COSCO SHIPPING Development has planted a green and low-carbon nature, continuously strengthened the layout of “green production, green business, green assets and green financing”, and made positive progress in the construction of green ships, the development of special containers, such as storage containers, the energy-saving transformation of equipment, and the use of clean energy, etc. The CFP and EPD platforms for containers created by the company have published a number of reports.As the steel eco-service platform held by China Baowu Group and the secretariat of the EPD platform for the whole steel industry chain, Ouyeel plays an important role in the green and low-carbon development of the national iron and steel industry, and has made outstanding contributions to the promotion of the green and low-carbon transformation of the iron and steel industry and the upstream and downstream industry chains.

Green and low-carbon transformation is the base color of high-quality development. COSCO SHIPPING Development will continue to focus on the positioning of industry-financing integration, strengthen the digital empowerment of science and innovation, accumulate the momentum of green development, and join hands with all parties to jointly build the ecosystem of industry development that is digitally-intelligent, green, and shared, so as to push forward the industry chain's green, low-carbon, and sustainable development.