OREANDA-NEWS. December 06, 2012. Agricultural Bank of China Limited (ABC) and Shandong Liuhe Group Co., Ltd. (hereafter “Liuhe Group”) signed a Cooperative Agreement covering Comprehensive E-commerce Business in Beijing. Mr. Cai Huaxiang, Executive Vice President of ABC, and Mr. Zhang Xiaocheng, Executive Board Chairman of Liuhe Group, both attended the signing ceremony, reported the press-centre of ABC. 

The two parties announced their future plans for comprehensive cooperation in the e-commerce field, including promoting e-commerce in agricultural production and business operation among upstream and downstream agro-enterprises and farmer households and improving productivity and operation efficiency of the whole supply chain. They will jointly develop e-commerce programs to serve farmers, agro-enterprises and economic development in rural areas, thereby boosting China’s e-commerce market and agro-industrial upgrading. Both parties will strengthen business cooperation in many different fields and jointly push the development of China’s farming and animal husbandry and economic development in rural areas. These programs, will even more greatly contribute to the balanced and harmonious development between urban and rural areas.

Mr. Cai Huaxiang said that e-commerce is playing an increasingly bigger role in expanding household consumption, driving economic growth, improving commodity circulation efficiency and transforming economic growth mode. E-commerce is believed to set an irreversible trend in social and economic development. In order to maintain its advantages in traditional financial business, ABC attaches greater importance to innovative business, in particular, innovative development of online financial business represented by e-commerce. It deems the development of online financial business as its strategic core target, and aims to become a first-rate online financial services provider with the broadest business scope and the biggest customer base in China. Online financial services will supplement ABC’s nationwide physical operating outlets to form a multi-channel financial services network. This cooperation in e-commerce between ABC and Liuhe Group presents a new way for ABC to better serve Sannong (agriculture, farmers and rural areas) in the future.

Mr. Zhang Xiaocheng highly appreciated ABC’s long-term support for Liuhe Group. He indicated that as an emerging business, e-commerce breaks the limits of traditional distribution channels and pushes the transformation of business operation mode. It has become an effective approach for enterprises to diversify marketing channels, saving trading costs and continuously improving their services and core competitiveness.

Mr. Ma Shuguang, General Manager of e-Banking Department of ABC, announced that ABC has been continuously improving its three business sections - payment and settlement, online financing and value-added services in recent years. ABC has worked out solutions for “12 major industries” and built an exclusive brand “Leading E-Commerce”. Moreover, ABC is constantly improving its marketing system, advancing full-process business management, and working hard to build a business finance platform for enterprises. This platform effectively deepens the collaboration between ABC and its customers. This has become a new engine to motivate the innovation of e-banking products and services and stimulate the effective development of ABC’s fee-based business and the transformation of asset and liability businesses.