On April 24-25, the Chairman of China Resources Group, Dr. Fu Yuning attended the Belt and Road CEO Conference upon invitation in Beijing. The large-scale and high-profile Conference was held for the first time by the Belt and Road Forum for international cooperation, attracting nearly 900 representatives from countries around the world.
During the Conference, Chairman Fu was invited to hold talks with Yasir Othman Al-Rumayyan, who is Managing Director of the Saudi Arabian Sovereign Fund, PIF. Founded in 1971, PIF is currently chaired by Saudi Crown Prince, with several Saudi Arabian ministers serving as board directors. With an asset management target of $400 billion by 2020, PIF is planning to open an Asian office, focusing on emerging markets represented by China and gradually increasing its investment in Asia. PIF is willing to join hands with China Resources Group to bring overseas smart capital into China and work along with Chinese industries to go global and find overseas investment opportunities with common interest.
Prior to the meeting, Chairman Fu toured the corporate laboratories, shared office area and supporting service facilities in China Resources Life Science Park during a visit. He also held talks with the management team of the Park and listened carefully to a report on improving development strategies and planning for differentiated industry development as well as working plans for the next phase.
While giving credit to efforts of China Resources Life Science in the previous phase, Chairman Fu also emphasized that the Company should fully exploit the science and technology innovation resources of the capital and firmly promote innovation-driven development. Efforts should be made to accelerate construction of the Park and create an ecological circle for technological innovation, he said. It is necessary to take steps to develop an innovation incubation system with both characteristics of the capital and a global vision by planning from a high starting point and implementation of high standards. Only by doing so can breakthroughs be made in three major fields - precision medicine, biotechnology, and digital medicine and related segments, Fu added.