Lately, during the Fourth CICA(Conference on Interaction and Confidence-Building Measures in Asia) Summit, BOC and VTB Capital of Russia entered into a Comprehensive Business Cooperation Agreement, pursuant to which, both sides will strengthen cooperation in RMB settlement, trade finance, project finance and investment banking in a bid to comprehensively boost the financial service quality to clients from both countries.
BOC President Chen Siqing and the First Deputy Chairman of VTB Capital Mr. Titov signed the cooperation agreement on behalf of the two banks respectively, and exchanged ideas about practically implementing the agreement, mutual recommendation of clients and projects, and mutual support of each other's local business development.
In recent years, China and Russia have constantly deepened cooperation in oil & gas, nuclear energy and electric power, which has paved the way for intensified financial cooperation between commercial banks of the two countries. VTB Capital is the second biggest commercial bank of Russia, specialized in foreign exchange and foreign trade in the country. It has established business platforms in respect of corporate finance, retail banking and investment banking, among others, and operations across Russia and the CIS region. Both sides will seize this opportunity to exert their respective advantages, and jointly promote economic and trade cooperation between the two countries.
|
