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Signing of Strategic Cooperation Project for Kaifeng Pingmei Dual-Carbon Industry Investment Fund Author/Source: Huahua Net Coal Chemicals Date: 2021-10-14 Clicks: 83 On October 8, following the signing ceremony for the second phase of Henan Province’s “Three Batches” initiative at the Kaifeng venue, China Pingmei Shennma Energy and Chemical Group Co., Ltd. held a meeting to advance the strategic cooperation project involving an investment fund of 10 billion yuan that had been agreed upon. On that day, Kaifeng City signed a strategic cooperation agreement with China Pingmei Shenma Energy Chemical Group Co., Ltd. and Zhongyuan Yuzi Investment Holding Group Co., Ltd. for the Kaifeng Yuzi Pingmei Dual Carbon Industry Investment Fund project, with a total scale of 10 billion yuan. The fund will invest in leading technology companies in the field of carbon neutrality, key chemical projects, as well as projects that receive support from the municipal party committee and the municipal government. At the promotion meeting, Li Mao, chairman of Pingmei Shenma Energy Chemical Group, said that it is necessary to seize the opportunity provided by the 10-billion-yuan industrial fund, focus on Kaifeng’s goals for high-quality development, implement, improve, and plan a series of \"high-tech, sophisticated, specialized\" projects. By making full use of relevant policies and pursuing continuous innovation as well as industrial upgrading, it is possible to enhance overall strength and lay a solid foundation for Kaifeng’s high-level and high-quality development. The total scale of the Kaifeng Yuzi Pingmei Dual Carbon Industry Investment Fund is 10 billion yuan, with the initial fund size amounting to 2 billion yuan. Yuzi Group, Kaifeng City, and Pingmei Group contribute capital in a 4:3:3 ratio, with the funds being directed toward emerging industries such as cutting-edge technologies for carbon neutrality and new energy sources in Kaifeng City, as well as those areas that are given priority support by the city’s Party committee and government. It is said that the successful establishment of this fund will effectively promote the development of leading technology enterprises focused on carbon neutrality in Kaifeng, as well as emerging industries such as coal chemical processing, new energy, and new materials. It will also accelerate the accumulation of low-carbon technologies and innovations, thereby helping to build an almost zero-carbon industrial framework.