Big state-owned lender Bank of China (BOC) has just entered a new strategic agreement with the municipal government of Shanghai.
On 18 September BOC and the Shanghai People’s Government executed the “Comprehensive Strategic Cooperative Agreement.”
Under the Agreement the two parties will further strengthen cooperation and improve financial services for the real economy, with an especial focus on the Shanghai Free Trade Pilot Zone, enterprises listing on the STAR Market board of the Shanghai Stock Exchange (SSE), and integrated development of the Yangtze River Delta.
Other focal areas will include the development of Shanghai as a financial centre and a tech venture capital centre, as wells upgrades to industry and the China International Import Expo.
Liu Liange (刘连舸), BOC Chairman, said that Shanghai was at the forefront of reform and opening, providing key development opportunities for BOC in Shanghai.
“BOC will use the execution of this Agreement as an opportunity, and continue to employ its international and integrated advantages, deepen comprehensive strategic cooperation with Shanghai, comprehensively assist the establishment of the ‘Five Centres’ in Shanghai, and make a greater contribution to the economic and social development of the city.”