Strengthening Cooperation for Common Development and Prosperity

CCB provides RMB120 billion of financial support for Hebei’s economic growth

On January 23, Chang Zhenming, President of CCB, and Ji Yunshi, Governor of Hebei province signed the Bank-Government Cooperation Agreement in Shijiazhuang. CCB will offer RMB100 billion of financial support to the power, transportation, iron & steel, oil & petrochemical industries and infrastructure construction and another RMB20 billion of credit to the small and medium-sized enterprises, county economy and special industries of the province.

Over years, CCB has been an active player in and supporter for Hebei’s economic development and established sound cooperative relations with the local government. To fuel the rapid and healthy economic growth of Hebei, during the eleventh five-year plan period, CCB will follow the national macro economic, industrial, regional development and related credit policies to deliver RMB120 billion of financial support to the power, transportation, iron & steel, oil & petrochemical industries and infrastructure construction as well as the small and medium-sized enterprises, county economy and special industries of the province in line with the provincial eleventh five-year development plan.

Speaking at the signing ceremony, Guo Shuqing, Chairman of CCB, noted that Hebei province reaches Bohai in the east and is a neighbor to Beijing and Tianjin. With rich natural resources and well developed transportation network, it holds a strategic position in the Bohai rim economic development landscape. Over the years, Hebei has made full use of its resources to strengthen infrastructure construction and ecological protection, worked hard to change the economic growth pattern, accelerated industrial restructuring, maintained rapid economic growth and great increase of financial revenue, improved comprehensive strength and scored remarkable achievements.

CCB will follow the strategic vision of “being a leading international commercial bank providing customers with the best services, creating maximum value for its shareholders and offering the best development opportunities to its employees” and make best use of its advantages to provide quality and efficient financial services for Hebei’s economic progress.

During his speech, Ji Yunshi indicated that over the years CCB has offered a large amount of credit to the transportation, power, iron & steel, urban construction and various undertakings and made great contribution for the economic and social progress of Hebei. The promise of CCB to deliver RMB120 billion of credit to the infrastructure projects and small and medium-sized enterprises of Hebei in the next 5 years provides strong support for the province to realize its goals in the eleventh five-year plan period.

During the eleventh five-year plan period Hebei’s economic growth will face critical opportunities. The province will make best use of its geological advantages of being close to Beijing, Tianjin and Bohai and follow the strategic vision of comprehensive development to achieve rapid growth and build a harmonious Hebei. It will strengthen the key projects construction and the development of county economy to accelerate the transfer from a big economic province to a competitive economic province.

To reinforce the cooperation in key construction projects, both sides will set up the financial cooperation and coordination mechanism to jointly forge the win-win cooperation between the bank and the government and open a new page for the economic take-off of Hebei province.

The cooperation is of great importance to giving full play to the advantages of the bank and the government, jointly preventing and managing financial risks, realizing the geological advantages, promoting the sustainable and coordinated development of local economy and finance and building Hebei into a competitive province in the Bohai rim.

Guo Gengmao, member of the standing committee of the CPC Hebei Committee, Yi Yali, Assistant to the Governor and Secretary Genera of the Provincial Government and Zhao Shihong, Assistant to the Governor and Director of the Provincial State-owned Assets Supervision and Administration Commission were present at the signing ceremony.