CEO Chuanwei Zhang Spoke at China's National People's Congress
ZHONGSHAN, China, Mar. 10, 2015 /PRNewswire/ -- China Ming Yang Wind Power Group Limited's ("Ming Yang" or "the Company") (NYSE: MY) Chairman and Chief Executive Officer, Mr. Chuanwei Zhang, recently delivered a speech headlined "Our Country Should Develop Advanced Equipment Manufacturing Industry under the Context of New Normal" at China's National People's Congress ("NPC") in Beijing as a member of the NPC.
In his speech to all NPC members as well as China's high-ranking government officials attending the meeting, Mr. Zhang emphasized that since equipment manufacturing is a capital-, technology- and labor-intensive sector and in turn, plays an important role in investment, technology innovation and employment, it is without a doubt a pillar industry of China. Therefore, its future development should receive additional attention from the government. The domestic equipment manufacturing industry, currently faces various difficulties amidst an increasingly competitive global environment.
As China is now entering the "New Normal" phase, which focuses on higher quality growth over quantity, Mr. Zhang suggested that more favorable policies for companies should be introduced in the advanced equipment manufacturing sector, such as preferential tax treatment and priority in land acquisitions. Mr. Zhang proposed that the government set up industry funds to invest in certain key manufacturing companies and encourage research and development innovations. Mr. Zhang further expected commercial banks and other financial institutions to lower interest rates in favor of equipment manufacturing clients. In addition, in Mr. Zhang's view, local governments should include the equipment manufacturing industry in its industrial master plan with reference to the Guangdong model, where the provincial government established well-organized and strategically-located industrial zones along the west bank of the pearl river for top-tier manufacturers, where Ming Yang's major China operations currently locate. Lastly, Mr. Zhang believed the equipment industry would see more mergers and industry consolidations in the near future, which would create synergies and allow manufacturers to provide more value-added total solution services.
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodyne Energiesysteme, one of the world's leading wind turbine design firms based in Germany, to co-develop wind turbines. In terms of newly installed capacity, Ming Yang was a top 10 wind turbine manufacturer worldwide and the largest non-state owned wind turbine manufacturer in China in 2013.
For further information, please visit the Company's website: ir.mywind.com.cn
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "to be," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "goal," "strategy" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Ming Yang's control, which may cause Ming Yang's actual results, performance or achievements to differ materially from those in the forward-looking statements. Actual results or events may differ from those anticipated or predicted in this press release, and the differences may be material. Further information regarding these and other risks, uncertainties or factors is included in Ming Yang's filings with the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For investor and media inquiries, please contact:
Investor and Media Contacts:
China Ming Yang Wind Power Group Limited
Johnson Zhang
+86-760-2813-8898
[email protected]
http://ir.mywind.com.cn
SOURCE China Ming Yang Wind Power Group Limited
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