OREANDA-NEWS. April 28, 2012. Industrial Bank (IB) and China Development Bank (CDB) Fujian Branch held the signing ceremony for the financial cooperation agreement between the two parties in Fuzhou. Yao Zhongmin, Deputy Party Secretary and Chief Supervisor of CDB, Zhang Wei, President of CDB Fujian Branch, Board Chairman Gao Jianping, President Li Renjie, and Vice President Lin Zhangyi of IB attended the signing ceremony, reported the press-centre of IB.

 

The two parties entered into the Financial Cooperation Agreement on Jointly Pushing Forward the Construction of the Western Taiwan Straits Economic Zone. Based on the agreement, the two parties will carry out close collaboration centering on the key areas in the construction of the Western Taiwan Straits and jointly drive forward the financial services to the real economy, key projects and key industries as well as small- and mini-sized enterprises in Western Taiwan Straits to propel the development of the West ern Taiwan Straits Economic Zone.

 

It is reported that, IB and CDB Fujian Branch have cooperated with each other regarding a number of businesses such as consigned agency settlement, syndicated loan and asset management, with an amount totaling more than RMB 10 billion accumulatively. Based on this agreement, the two parties will continue furthering their cooperation in the fields of conventional businesses such as syndicated loan, consigned settlement, and loans to SMEs. In addition, they will also extend their cooperation to another 12 fields including bond market, capital market, people's livelihood, green finance, and trading finance. With concerted cooperation, the two parties will improve their roles and influence in the financial system of Western Taiwan Straits Economic Zone, supplement each other with their respective advantages, bring mutual benefits to each other, and achieve a multi-win situation. In this way, they will make additional contribution to pushing ahead the scientific construction and frog-leap development of Western Taiwan Straits Economic Zone.

 

President Li Renjie of IB said at the signing ceremony that, as the only national listed bank with Head Office in Fujian, IB has always taken it as one of its missions to serve the scientific and frog-leap development of the West ern Taiwan Straits, fully acted as a leading financial force in the Western Taiwan Straits, and kept on intensifying financial services across the Western Taiwan Straits.

Based on the previous strategic measures regarding the financial services to the Western Taiwan Straits such as the launching of “Multi-Billion Program for Advancing Six Major Projects” in 2010 and “Seven Innovations to Respond to the Five Campaigns”, this year the bank released the Opinions on Strengthening Financial Services to the Western Taiwan Straits in a Sustained Way by Exerting the Two Advantages of IB and Activating Three-wheel Drive, proposing to bring into full play its two advantages–location of group headquarters and integrated business, and exert itself to activate the “three-wheel drive”–regional planning, key industries and projects, and real economy and SMEs, so as to enter into the crucial links and key fields for the economic growth of the Western Taiwan Straits in an efficient way, help boost the further development of the “Five Campaigns” with comprehensive services, and propel the development of Fujian and construction of the Western Taiwan Straits in a sustained way.

 

In 2011, the loans granted by IB in Fujian Province totaled RMB 99.788 billion, and the credit balance at the year-end reached RMB 178.4 billion, increasing by 24.04% over the beginning of this year, which is 8.87% higher than the average growth rate of the bank in the same period. The balance of loans to small-sized enterprises in the province totaled RMB 77.403 billion, increasing by 25.41% over the beginning of this year with the increased amount reaching RMB 15.684 billion , which is 9.53% higher than the average growth rate of the bank as regards loans to small-sized enterprises in the same period. The balance of loans to small- and mini- enterprises with a credit line below RMB 5 million in the province totaled RMB 22.5 billion, increasing by 71.80% over the beginning of this year with the increased amount reaching RMB 9.4 billion. The balance of loans to livelihood projects including the construction of urban infrastructure and small towns amounted to RMB 4.675 billion.

 

President Zhang Wei of CDB Fujian Branch pointed at the signing ceremony that, CDB had become a bank with full banking businesses and an all-license bond bank integrating “investment, loan, bond, lease and securities”, and a leading bank in the field of medium- and long-term investment and financing and the largest cooperative bank in the field of foreign investment and financing in China. CDB Fujian Branch has been responding to the overall economic development of the West ern Taiwan Straits Economic Zone in an active way. Since its establishment, the branch has granted RMB 398.9 billion for financing in Fujian–with a total financing volume of RMB 70.4 billion in 2011, helping to guarantee that the fund chain for key projects would keep intact.

In 2012, the branch will continue exerting its collaborative advantages in medium- and long-term investment and financing and integrated businesses and will try every means to increase fund investment in Fujian and to increase the annual financing volume to an appropriate extent over the previous year. It will continue supporting the key construction of infrastructure, basic industries and mainstay industries in the province with large, long-term, sustained and stable funds support, safeguarding and improving the people's livelihood, and consolidating and keeping the good momentum of the economic development of Fujian Province in a stable and fast way.

 

By the end of this March, CDB Fujian Branch has realized a total financing volume up to RMB 15.6 billion, with the balance of loans in both home and foreign currencies reaching RMB 125.3 billion, keeping the recovery rate of both the principals and interests of loans at 100% for 38 quarters consecutively.