OREANDA-NEWS. October 04, 2012. Industrial Bank (IB) and China Railway Construction Corporation (CRCC) held the ceremony to sign the strategic cooperation agreement at Fuzhou, with a view to boosting the construction of infrastructure jointly in China. President Zhao Guangfa of CRCC and Board Chairman Gao Jianping of IB attended the ceremony, and Vice President Zhuang Shangbiao of CRCC and Vice President Lin Zhangyi of IB signed the cooperation agreement on behalf of the two sides respectively, reported the press-centre of IB.

According to the agreement, IB and CRCC will cooperate with each other closely to serve the construction of infrastructure in China by bringing into full play their respective advantages. IB will extend financing loans, totaling RMB 40 billion, to CRCC, exert its advantages in integrated businesses to the largest extent, utilize diversified financial products such as investment banking, trust, and financial leasing and establish a “ green channel for approval” to provide special financial support matching the key projects invested by CRCC in China. Meanwhile, the bank will also provide all-sided financial services to the group in the business fields such as trading finance, cash management and green finance.

It is reported that CRCC is one of the super-large integrated construction groups with the greatest strength and largest scale in China and even across the world. As the Chinese largest project contractor and overseas project contractor, the group takes a leading position in the design and construction of railway, highway, bridge, tunnel, urban rail transit projects, ranking No.111 among the “Fortune Global 500” in 2012, and No.1 among the “World 225 Largest Contractors” and No.7 among the “China Top 500” in 2011.

As one of the first group of joint-stock commercial banks at home, IB got listed at Shanghai Stock Exchange on February 5, 2007, and became first bank following the Equator Principles in China in 2008. According to the latest Ranking of Global Top 1000 Banks released by the British Magazine, The Banker, IB remained firmly to be one of the top 100 banks around the world, ranking No. 61 in terms of total assets and No. 69 in terms of Tier 1 capital. According to the 2012 Top 500 Chinese Enterprises jointly released by China Enterprise Confederation (CEC) and China Enterprise Directors Association, IB ranked No.95 with its operating income of RMB 118.439 billion, up by 98 positions over the last year, becoming of the top 100 enterprises of China.