OREANDA-NEWS. June 13, 2013. Agricultural Bank of China Limited (ABC) and the Ministry of Industry and Information Technology (MIIT) signed the Strategic Cooperation Agreement on Financial Services for Small- and Medium-sized Enterprises in Beijing. Mr. Guo Haoda, Vice President of ABC, and Mr. Zhu Hongren, Party Leadership Group member and Chief Engineer of MIIT, signed the agreement on behalf of the two parties.

It’s reported that back in December 2009, the two parties already signed the Memorandum of Cooperation on Financial Services for Small- and Medium-sized Enterprises in a bid to explore new modes to support development of SMEs through bank-government cooperation.

Three years later, the two parties signed the agreement to broaden and deepen their cooperation, so as to improve financial services for SMEs by tapping into policy advantage of MIIT and comprehensive financial advantage of ABC.

Looking forward, the two will cooperate in providing SMEs with financial services, incubating quality SME clusters and establishing long-acting cooperation mechanism. While doing so, they will adhere to the principle of “top-down design and grass-root connection, superposed policies and supplemental advantages, integrating resources and innovative development”.