On August 18, the signing ceremony for the strategic cooperation agreement between Bank of China and Hangzhou Wahaha Group was held in Beijing. Chen Siqing, Vice President of Bank of China, and Zong Qinghou, Chairman of Wahaha participated in the ceremony.
According to the agreement, Bank of China will provide Wahaha Group with a full range of financial services, including credit extension and financing, cash management, international settlement, fund business, personal banking, investment bank and financial consultation and so on. Bank of China will provide a credit line of RMB 10 billion for Wahaha Group and its main affiliated enterprises, to facilitate Wahaha to expand the international market and implement diversification strategy. The signing of the agreement marks the establishment of a strategic partnership between Bank of China and Wahaha, playing an important role in enhancing the relationship, promoting the all-round cooperation, and realizing the win-win result for the two parties.
Founded in 1987, Wahaha Group is a food and beverage giant integrating product R & D, production and sales. At present, it is the biggest beverage manufacturer in China. Wahaha has been ranking the first with regard to the assets scale, production quantity, sales revenue, profit, tax and other indicators in China's beverage industry for 13 consecutive years.
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