On February 18, 2019, Teng Peng, Director of the Finance Bureau of Zhifu District, Yantai City, Shandong Province, and Ms. Su Ying from China Chengtong Oriental Asset Management Company visited Yingdong. They were warmly welcomed by Dong Dongdong(Director of Shanghai Yingdong Law Firm), Zhang Hao(Senior Partner), Yu Wenqiang(Senior Partner), Fu Rong (Senior Partner), Wu Jin(Senior Partner) and Lawyer Li Dahao.

The two sides exchanged views on the development of the Zhifu District Government enabled by Yingdong.

Discussion on Enabling the Development of the Zhifu District Government

First, Senior Partner Zhang Hao introduced the development of Yinghe Law Firm and Yingdong Law Firm, the plan of Yingdong for 2019, Yingdong Securities Finance Department’s remarkable performance and innovation in Internet finance, fintech, and ownership reform.

Zhang Hao, Senior Partner of Yingdong

Next, Senior Partner Yu Wenqiang highlighted that there are many unfinished projects as infrastructure construction is cooling down. This is an issue related to people's livelihood that requires the joint efforts across the government, lawyers and financial institutions to revitalize assets and safeguard social stability. He showed Yingdong’s contribution in the reconstruction of homesteads and the revitalization of rural assets.

Yu Wenqiang, Senior Partner of Yingdong

Later, Senior Partner Fu Rong and Partner Wu Jin proposed that more standardized and diversified lawyer service products can meet the government needs, and support economic development. Helping Chinese companies going global requires a full understanding of local policies and resource support.

Wu Jin, Partner of Yingdong

Next, Director Teng and Wang Zhaoqing and Chen Qiang, leaders of the Finance Bureau of Zhifu District pointed out that Yantai is an important city in Shandong with a sound economic foundation, covering business services, advanced manufacturing, smart technology, culture, education, tourism, healthcare, and industrial finance. The land price is relatively low, suggesting high potential as a late-comer. However, development of Yantai is currently uneven. The government needs to attract private capital and build investment and financing platforms to restructure industries and revitalize idle assets, and to help state-owned capital to develop in a profitable way.

Teng Peng, Director of the Finance Bureau of Zhifu District, Yantai City, Shandong Province

Wang Zhaoqing, Finance Bureau of Zhifu District, Yantai City, Shandong Province

Chen Qiang, Finance Bureau of Zhifu District, Yantai City, Shandong Province

Zou Jun, Director of Shandong Yingwei Law Firm

Lawyer Li Dahao mentioned that PPP could be applied to bring in integrated urban service operators, and further enable the government to develop.

Lawyer Li Dahao from Yingdong Firm

Finally, Mr. Dong, the director of Yingdong Firm concluded that there would be closer and more frequent contact between Yidong and the Zhifu District to enable local enterprises. In the future, global resources will also be integrated to provide service locally.

Director Dong Dongdong of Yingdong Institute

This exchange meeting not only strengthened the communication between the Zhifu District Government and Yingdong Law Firm for further enabling local enterprises, it also reflects a closer cooperation between Yingdong and local institutions and law firms. Strength is built on cohesion while unity gives birth to hope. With a joint effort, Yingdong will enable more local enterprises to thrive.

Group Photo