November 24, 2016

　　 (Photo source: CCTV News)

　　Witnessed by Chinese President Xi Jinping and Chilean President Michelle Bachelet, a Financial Services Strategy Cooperation Agreement was entered into by and between State Power Investment Corporation (SPIC) (signatory: General Manager Meng Zhenping), Pacific Hydro Chile (signatory: Executive Chairman José Antonio), and China Construction Bank (signatory: Chairman Wang Hongzhang) on November 22 in Santiago, which aims at establishing long-term cooperative relations and jointly propel clean energy development in Chile and Latin America.

　　As the largest Chinese-funded enterprise in Chile, Pacific Hydro Chile serves as an important platform for SPIC to achieve its international network and regional growth in Chile and Latin America. Pacific Hydro Chile has now five Chile-based hydropower plants along two river basins and with installed capacity of almost 500 MW, which is now working on energy projects of hydropower, wind power and photovoltaic power.

　　The Agreement will facilitate SPIC developing its business in the markets of Chile and Latin America, and spur capital, technology, equipment and labor export from China, which represents a practicable move that enterprises and financial institutions of the two countries promote sustainable development of China-Chile bilateral relations and deeper bilateral cooperation in the field of energy.

　　Executives of Department of International Business of SPIC, and SPIC overseas company were present at the signing ceremony.