OREANDA-NEWS. November 03, 2015. Volkswagen AG and leading Chinese bank Industrial & Commercial Bank of China Limited (ICBC) have signed a memorandum of understanding (MoU) in Beijing setting out a long-term strategic partnership.

In the presence of Chinese Premier Li Keqiang and German Chancellor Dr. Angela Merkel, Matthias M?ller, the CEO of Volkswagen Aktiengesellschaft, said: "We are convinced that this cooperation not only benefits our own two organizations throughout the world, but will also add value for our customers, suppliers and dealers." Under the MoU, ICBC will provide Volkswagen AG with a wide range of banking services in China and globally.

Muller is accompanying Chancellor Angela Merkel on her trip to China. In the course of the visit he has also held discussions with leading figures from the fields of politics and society.