Yingde Gases and China Construction Bank Sign Green Finance Partnership Agreement

On November 8, 2024, Yingde Gases entered into a Memorandum of Understanding (MOU) with China Construction Bank (Malaysia) Berhad (hereinafter referred to as CCB), focusing on green finance, during the 7th China International Import Expo (CIIE). The two parties intend to engage in a deep collaboration within the realm of green finance, aiming to forge a novel pathway for green transformation and to foster low-carbon, sustainable development across ASEAN countries.

As the countries along the “Belt and Road” initiative are primarily developing countries, they still practice a high-energy consumption economic growth model which presents relatively severe environmental and climate risks. Riding on the wave of global green transformation, Yingde Gases established partnership with CCB by leveraging its extensive experience in low-carbon energy saving measures and green gas applications. Based on the agreement, CCB shall provide comprehensive financing services to Yingde Gases through the bank’s green finance solutions and cross-border service platform for Yingde Gases’ sustainable development projects in the ASEAN region. Such projects include green factories, industrial energy conservation, renewable energy and energy efficiency improvement projects which will serve as strong pillars for the business development of Yingde Gases in the ASEAN region.

Implementing its philosophy - “Empower society through innovative and sustainable industrial gas solution”, Yingde Gases has distributed its operations beyond China. As the overseas brand in the Group, NovaAir has businesses in Southeast Asia, South Asia and Oceania while successfully operating a number of air separation units in Malaysia, Thailand, India and other areas. Yingde Gases continues to make improvements in its traditional business segments in which it has an advantage while developing emerging projects and exploring opportunities in the areas of in-depth decarbonization, green development and expansion of overseas markets. In doing so, Yingde Gases is set to achieve differentiated strategic breakthroughs and boost the green transformation and sustainable development in the "Belt and Road” countries.