CCB signed the Strategic Cooperation Agreement with Shougang Group on March 14, 2005 in Beijing. President Chang Zhenming attended the signing ceremony and delivered a speech. Heads from related departments of the headquarters of CCB, Beijing Branch and Hebei Branch were present at the ceremony.

Chang Zhenming pointed out that Shougang Group is our major account all the times. Both sides have maintained stable and friendly cooperation in the long run. CCB provided strong credit support to the completed project of Shougang Group, built up a capital settlement network for Shougang Group and opened a service system for major accounts. Currently, CCB is cooperating with Shougang Group on related project on implementing structural adjustment. The signing of the Strategic Cooperation Agreement indicates that the cooperation between the two parties has entered a new level.

Shougang Group is a large state-owned steel enterprise. Through years of development, it has grown into a super-large state-owned group with business covering steel, mining, machinery, electronics and international trade. Its total assets reached CNY 60.5 billion and the annual revenue amounted to CNY 60 billion. To further enhance its competitiveness in the international market, Shougang Group put forward a strategic plan to carry out restructuring on basis of the experience and growth over past years. The plan has been approved by the government. The signing of the agreement will not only consolidate the long-term and inter-dependent strategic cooperative partnership between the two sides but also create larger development space for CCB.