Govt., bank ink strategic deal

Writer: Zhang Yu  | Editor: Holly Wang  | From: Shenzhen Daily | Updated: 2019-11-28

Bank of China (BOC) will further strengthen comprehensive strategic cooperation with the Shenzhen Municipal Government in a bid to support the latter in building a pilot demonstration area of socialism with Chinese characteristics, the Shenzhen Special Zone Daily reported Saturday.

Shenzhen Party chief Wang Weizhong and Shenzhen Mayor Chen Rugui met with Liu Liange, chairman of the board of directors of BOC, and attended the signing ceremony of a strategic cooperation agreement between the two sides Friday.

According to the agreement, the two sides will focus on the financial needs of building a pilot demonstration area and carry out in-depth and practical cooperation in key areas, such as the construction of a modern economic system, opening up and global cooperation, fintech and smart city, livelihood services and pension security.

In the next five years, BOC will provide no less than 500 billion yuan (US$71 billion) of new intentional financing to all kinds of qualified enterprises, institutions and residents in Shenzhen.

Wang expressed his gratitude to BOC for its long-term support of Shenzhen at the ceremony. Wang hopes that the two sides will further deepen and expand practical cooperation in more fields, implement the contents of the cooperation agreement as soon as possible and work together to serve the implementation of national strategies.

Wang said that Shenzhen will strive to create a world-class business environment and provide high-quality services for various financial institutions, such as BOC.

Chen said finance is the lifeblood of an economy. Shenzhen will comprehensively strengthen practical cooperation with BOC in various fields, such as fintech, cross-border finance, supply chain finance and financial talent training, and jointly create a new model of cooperation to achieve win-win development and create a better future.

Liu noted that the development of Shenzhen has been brilliant and encouraging. As the first State-owned bank to set up branches in Shenzhen, BOC has always been actively engaged in the economic and social development of the city as a witness, promoter and beneficiary of Shenzhen’s growth.

Liu added that BOC will fully support Shenzhen’s construction of the pilot demonstration area of socialism with Chinese characteristics through its innovative financial business formats and first-class financial services.

After the signing ceremony, Wang, Chen and Liu jointly unveiled seven institutions that have been set up or will be built by BOC in Shenzhen and witnessed the signing of a series of agreements between the bank and Shenzhen enterprises.