On May 20, an investigation group visited Far East to conduct research and communications with regard to “The NPC & CPPCC Proposals on Regulating Law on Tenders and Bids, and Implementation Rules”. The group consisted of leader officials including Vice Chairman of Financial and Economic Committee of Jiangsu Provincial People's Congress Dong Qibin, Director of Budget Division of Financial and Economic Committee of Jiangsu Provincial People's Congress Chen Guihua, Director of Public Resources Trade Management Division of Management Office of Jiangsu Government Affairs Service Zhou Hainan, Director of Economic General Office of Financial and Economic Committee of Jiangsu Provincial People's Congress Han Peng, and Director of Office of Financial and Economic Committee of Jiangsu Provincial People's Congress Feng Lei. The guests were received by Party Committee Secretary, Chairman of the Board and Chief Executive Officer of Far East Holding Group Jiang Xipei; Party Committee member, Assistant to President and Chief Administrative Officer Zhou Dongjiao; Assistant to General Manager of Far East Smarter Energy Co., Ltd. (abbreviation: Smarter Energy; stock code:600869) and CEO of Far East Trading Pay Technology Network Co., Ltd. Sun Lu; investor and Senior Director of Far East Smarter Energy as well as Assistant to General Manager of Far East Cable Chen Haiping.

Discussion and communications between the investigation group and Far East

 During the two sessions of Jiangsu Province this year, "The Suggestions on Regulating Law on Tenders and Bids, and Implementation Rules” proposed by Jiang Xipei as a Jiangsu Provincial People's Congress drawn high attention from Jiangsu Provincial People's Congress, and were submitted to Financial and Economic Committee of Jiangsu Provincial People's Congress and Management Office of Jiangsu Government Affairs Service for study and disposal. In the discussion and communications, Dong Qibin explained the purpose of the visit and hopes to obtain the suggestions from then enterprises on regulating Law on Tenders and Bids, in order to better promote the implementation of the proposals.

Dong Qibin spoke in the meeting

 Jiang Xipei put forward in the communications the importance and necessity of regulating Law on Tenders and Bids, and Implementation Rules. He noted that the implementation of the "13^th Five-Year Plan" needs a good business and legal ecology. However, currently an inaccurate use and abuse of the method winning bid with the lowest bid is seriously disrupting the market, hindering fair competition, worsening product quality, and violating the nation’s original intention and desire aiming to make the country strong with quality and make the country rise with brand as well as “superior quality, superior price” and “supply-side reform” proposed in the “13^th Five-Year Plan”.

Jiang Xipei spoke in the meeting

 Zhou Dongjiao introduced the development history of Far East. She said with more than 20 years of growth,Far East has constantly expanded the breadth and depth of the enterprise development.Far East adheres to focusing on industry cause, charity cause and educational cause, who not only concerns greatly about cultivating commercial value, but also pays more attention to social responsibility. Therefore,Far East is a lofty and warm enterprise with significant breadth.

Leaders of the company spoke in the meeting

 From the perspective of e-business, Sun Lu analyzed the unreasonable reasons for the method of winning bid with the lowest price that is adopted currently. He suggested applying strict market access, setting up supplier credit system and enhancing brand premium capability in the bidding process, contributing to a healthy development of the industry. Chen Haiping, starting from the industry’s current tendering and bidding situation, suggested establishing a cost price system of the industry.

The visiting leaders exchanged in the meeting

 Zhou Hainan, Han Peng, Du Xinghua and Jiang Xipei exchanged on site about the current situation of Law on Tenders and Bids, and the specific implementation rules.

 Dong Qibin said "The Suggestions on Regulating Law on Tenders and Bids, and Implementation Rules” is a very timely proposal, which is also very targeted, fully reflecting the social responsibility taken by private enterprises. After knowing about the total suggestions, Jiangsu Provincial People's Congress will organize relevant departments to study carefully the communication contents this time, and also look forward to strengthening communication and exchanges withFar Eastin future, to jointly promote the implementation of the proposal. 

 During the investigation, Dong Qibin and other leader officials also visited the Far East Trading Pay Network Technology Co., Ltd., Far East Material Trading Center Co., Ltd., Smarter Medium Voltage Cable Factory of Far East Smarter Energy, and Smarter Energy Science and Technology Museum.

The visiting leaders visited Far East Trading Pay Network Technology Co., Ltd.

The investigation was accompanied by Researcher of Jiangsu Provincial Public Resource Trade Center Du Xinghua, Deputy Chief of Public Resources Trade Management Division of Management Office of Jiangsu Government Affairs Service Li Ning, Deputy Director of Financial and Economic Committee General Office of Jiangsu Provincial People's Congress Zhu Hui, Deputy Party Secretary of Yixing Municipal People's Congress Standing Committee Zhou Bin, Deputy Director of Yixing Municipal People’s Congress Standing Committee Zhao Juming, and Directory of Personnel Representative Election Work Committee of Yixing Municipal People's Congress Standing Committee Jiang Zhiliang participated in the investigation. The reception of the visiting leaders was accompanied by investor and Vice Director of Development Service Department of Far East Smarter Energy Tian Xu, Deputy Director of Legal Affairs Development Shen Fuqiang, and Deputy Director of the Board Office and President Secretary of Far East Holding Group Shao Liang.