On August 17, Bank of China signed a RMB30-billion comprehensive strategic cooperation agreement with Shenzhen Yantian Port Group. Xiao Gang, Chairman of Bank of China, Tang Jie, Vice Mayor of Shenzhen and Li Bing, Chairman of Yantian Port Group participated in the signing ceremony.
The comprehensive strategic cooperation agreement covers various business areas, including credit financing, port industry chain financing, investment banks, cash management, financial consultation services, bonds and annuity.
Founded in 1985, Yantian Port Group is wholly owned by Shenzhen State-Owned Assets Supervision and Administration Commission. With an initial investment of RMB 800,000, drawing upon its favourable natural and geographical conditions, as well as the policy advantages of Shenzhen Special Economic Zone for the past 20 plus years, Yantian Port has grown into a large group with the main businesses covering the port construction and investment, integrated logistics, and supporting service industry. It adopts a highly market-oriented port development model, and the single port throughput has been ranked the first in China for many consecutive years.
Bank of China will take full advantage of its diversified platform to provide Yantian Port Group with the first-class comprehensive financial services, to help it achieve the leapfrog development, thus making an active contribution to the development of China's port industry.
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