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CCB Will Offer RMB 58.6 Bln Finance Support to Sichuan in Basic Industries

Published time：2005-09-14

Sep. 14—China Construction Bank Corporation (CCB) and Sichuan Province Government signed Financial Cooperation Agreement. CCB will offer RMB 58.6 billion financial support to Sichuan Province in infrastructural projects and basic industries including fields of power, transportation, city construction, education. President of CCB Chang Zhenming and Governor of Sichuan Province Zhang Zhongwei attended this signing ceremony.

In accordance with the national macro-economic policy, industry policy, and district development policy, the two parties have reached a common ground over the rapid development of Sichuan’s economy in the process of the national western development as well as the full play of the government and bank as a whole, in line with the economic development plan of Sichuan Province, and based on the principle of equality and mutual benefit, taking advantage of each other’s strength, sincere cooperation and joint development.

This cooperation plays a very important role in taking full use of strength between banks and government, jointly preventing and managing finance risks, accelerating the transfer of Sichuan resources, promoting sustained development of local economy and finance, and pushing Sichuan Province to become the strongest province and national important resources base in the west. CCB will offer quality services and long-term and stable financial support (including project financing, project management, settlement, financial consultation, engineering pricing) to Sichuan Province in terms of social economic development projects such as infrastructural construction, basic industries and facilities. In order to strengthen the cooperation in key projects, the two parties will build up a coordinated mechanism in financial collaboration to reach a win-win goal of bank-government cooperation to help Sichuan’s rapid growth in its economy.