On March 29, Mr. Qian Zhimin, Chairman of SPIC, held talks with Mr. Ronald Lam, Chief Executive Officer of Cathay Pacific Group (hereinafter referred to as “Cathay Pacific”) in Hong Kong to exchange views on deepening cooperation. Mr. Chen Haibin, Member of the Executive Committee of the Board and Vice President of SPIC, and Mr. Alex McGowan, Chief Operations and Service Delivery Officer-designate of Cathay Pacific attended the meeting. In the presence of Mr. Qian and Mr. Lam, SPIC International Finance (HK) Co. Ltd. and Cathay Pacific signed a Memorandum of Understanding (MoU) on sustainable aviation fuel (SAF).

Mr. Lam said Cathay Pacific has put SAF at the core of its sustainable development, with a view to reaching its goal of net-zero carbon emissions by 2050. In recent years, SPIC has actively pursued green development and made remarkable achievements. The two sides are highly compatible in terms of strategic development goals. It is hoped that the two sides will fully leverage their respective advantages and work together to promote the widespread use of SAF in the aviation industry and help achieve China’s goal of carbon peaking by 2030 and carbon neutrality by 2060.

Mr. Qian said that SPIC has promoted green and low-carbon development in an all-round manner and achieved positive results in green development and low-carbon transition. SPIC is willing to help Cathay Pacific achieve sustainable development. It is hoped that the two sides will leverage their industrial, technological and market advantages and strengthen cooperation in carbon assets, green power to X and SAF, in an effort to make positive contributions to tackling global climate change and jointly moving towards carbon neutrality.