OREANDA-NEWS. March 03, 2011. Agricultural Bank of China Limited (ABC) and China Railway Construction Corporation Limited (CRCC) held a strategic cooperation agreement signing ceremony in Beijing. Mr. Xiang Junbo, Chairman of ABC, Mr. Guo Haoda, Vice President of ABC, Mr. Meng Fengchao, Chairman of CRCC, Mr. Zhuang Shangbiao, Vice President, Chief Accountant and Chief Legal Advisor of CRCC  attended the ceremony. Mr. Xiang Junbo and Mr. Meng Fengchao delivered speeches at the signing ceremony, reported the press-centre of ABC.

According to the strategic cooperation agreement signed by the two sides, ABC commits to offer CRCC intentional financing limit totaling RMB100 billion within the next three year to support development of the various business sectors of CRCC.

Mr. Xiang Junbo said in his speech that business cooperation between ABC and CRCC was enhanced in recent years, which laid a good foundation for the strategic cooperation at the next stage. Along with the national endeavor on the construction of railways and urban rail transit, ABC would seize opportunities to establish a more profound cooperative relationship with CRCC to provide comprehensive and strong financial support to the development of CRCC.
Mr. Meng Fengchao said that CRCC's target of becoming a world-class large construction enterprise cannot be realized without financial support and he especially expressed his gratitude to ABC for its vigorous support and help in a number of  international projects of CRCC. He pointed out that the signing of the agreement was a new starting point for both parties and would enhance the brand and competitive advantages in their respective fields.

It is reported that CRCC is the world's largest multi-functional integrated construction group and China's largest overseas engineering contractor, acting as the main force of national infrastructure construction. It has participated in the construction of many well-known projects in the areas like railways, highways, urban rail transit, airports, ports, terminals, tunnels and bridges. Representing the highest level in China’s construction industry, CRCC has the brand influence spreading throughout the Middle East, Central Asia, Africa, Eastern Europe and South America, wining high reputation from the industry.