OREANDA-NEWS. July 12, 2012. The 10-th China Cross-Straits Technology & Projects Fair was opened in Fuzhou. As the only national listed bank with Head Office in Fujian, Industrial Bank (IB), together with China Industrial International Trust Limited, a subsidiary controlled by the bank, and Industrial Bank Financial Leasing Co., Ltd., a wholly-owned subsidiary of the bank, participated in the fair, boosting the development of the Western Taiwan Strait with the platform of 6.18 Fair, reported the press-centre of IB.  

In this 6.18 Fair, IB signed an agreement with Fujian WuHang Stainless Steel Products Co., Ltd., establishing strategic partnership. IB will provide RMB 1.35 billion to the company as the funds for transforming its manufacturing technology and working capital for its production and operation.

It is reported that, in the 6.18 Fair of last year, IB and Fujian Baosteel Desheng Stainless Steel Co., Ltd., a key project of Fujian Province, entered into a cooperation agreement on site, extending RMB 2 billion credit to the company, and provided customized financial service solutions to support the company to build itself into a green stainless steel production base with the greatest competitiveness in China. This year, IB will further its efforts to provide financial services to companies and deepen cooperation in the fields of funds accommodation, cash management, capital appreciation management, domestic and international settlement, trade financing, and financial consulting, so as to achieve a win-win result between the bank and enterprises.

For years, IB has always kept its root in mind, taken it as one of its missions to serve the economic construction of the Western Taiwan Straits, and fully acted as a leading financial force in the region, constructing platforms, introducing funds, and pushing forward cooperation via a number of financial business channels including banking, trust, securities and leasing. It has stressed on guaranteeing the fund demands of the “five campaigns” of Fujian Province by means of such financial services and functions as investment banking, financial lease, wealth management, trust financing, supply chain finance, cash management, and green finance. In this way, IB has constantly supported the frog-leap development of the Western Taiwan Straits.

By the end of this first quarter, the bank's balance of all credits both in home and foreign currencies has reached RMB 193.963 billion across Fujian, increasing RMB 15.562 billion over the beginning of this year, up by 8.72%, which is 4.92%, 3.03%, and 4.29% higher than the increase of loans of the whole bank, the increase of loans extended by financial institutions in the province, and the increase of loans extended by financial institutions across China. Meanwhile, with non-credit financing products, IB has provided a financing volume of RMB 10.057 billion to the Western Taiwan Straits. In addition, the bank has also extended 368 green finance loans in all districts of Fujian Province accumulatively, totaling RMB 8.122 billion, and the balance of green credit reached RMB 4.799 billion, up by 56.7% YoY.

Additionally, the trust scale of financing provided by China Industrial International Trust Limited, a subsidiary controlled by IB, to enterprises in the province by way of trust businesses such as loan extension, investment in equity/stock usufruct, and transfer of credit assets, reaches RMB 10.748 billion and meets the financing demands of the SMEs and some outstanding large enterprises, such as Fujian Provincial Communication Transportation Group Co., Ltd., Fujian Energy Group Co., Ltd., Fujian Ningde Nuclear Power Co., Ltd., and Rongqiao Group Co., Ltd., across Fujian Province. Meanwhile, Industrial Bank Financial Leasing Co., Ltd., a wholly-owned subsidiary of IB, provides two financial supports respectively to Zhangzhou Xiamen-Zhangzhou Expressway Co., Ltd., and Fuzhou Transport Construction Group Co., Ltd., totaling RMB 1.03 billion.