China’s Biggest Bank Enters Strategic Partnership with Ministry of Science to Drive Tech Financing


China and the world’s biggest bank in terms of assets has just entered a strategic partnership with the Chinese science authority to expedite the financing of the tech sector.

On 15 March the Industrial and Commercial Bank of China (ICBC) executed a strategic cooperative agreement in Beijing with China’s Ministry of Science and Technology (MOST) to drive “the coordinated development of the real economy, tech innovation and modern finance.”

MOST head Wang Zhigang (王志刚) said that he hoped that close cooperation with ICBC would permit the “positive exploration of a path for the development of tech financing with Chinese characteristics”

ICBC party secretary and chair Chen Siqing (陈四清) said that the bank would “actively drive the closer integration of modern finance and tech innovation, and continue to raise the applicability, competitiveness and inclusiveness of financial services.”