▲ Zhang Enzhao shook hands with Chen Bohe, President of Vietnam Investment and Development Bank

On October 17, Zhang Enzhao, president of CCB has signed Memorandum of Understanding on Business Cooperation with Cheng Bohe, president of Vietnam Investment and Development Bank in Beijing. This is the first time that CCB signed comprehensive business cooperation agreement with frontier trade countries (region). This agreement does not only start a new age in financial cooperation between China and Vietnam, but also help to enlarge the influence of both two banks on China, Vietnam and international financial market.
　　 Vietnam Investment and Development Bank is among the four largest commercial banks in Vietnam and plays a leading role in the banking industry and has made great contributions to the economic and social development of Vietnam. Since the establishment of formal agency relations between two banks, both parties have conduct good cooperation in frontier trade settlement and other business. The cooperation is conductive to the 20% development of bilateral trade volume and makes significant contributions to the economic and trade development of both countries. 
　　 In recent years, economic and financial globalization developed with unprecedented speed; with the upgrade of theory concerning bank competition and cooperation, win-win theory has become the common understanding of all professionals in banking industry. CCB signed comprehensive business cooperation agreement with Vietnam Investment and Development Bank to conduct even broader cooperation in foreign exchange transaction, syndicate loan, project financing, trade settlement, client information sharing and other areas on the basis of mutual benefit and common development.
　　 The signature was conducted in a friendly environment. Participants of the ceremony included more than 20 guests from China and Vietnam, Luo Zhefu, Deputy President of CCB, Liu Liange, Vice Director General of Department of International Settlement of People’s Bank of China, Deputy President of National Bank of Vietnam (central bank), presidents of four major commercial banks, high officials of ministries and commissions.