CCB and Suzhou municipal government sign the Financial Cooperation Agreement 

CCB will offer RMB40 billion for Suzhou power, transportation and urban construction industries and infrastructure projects and another RMB10 billion of credit for small and medium-sized enterprises

On February 21, Luo Zhefu, Vice President of China Construction Bank Corp. (CCB) and Yan Li, Mayor of Suzhou municipal people’s government signed in Suzhou the Financial Cooperation Agreement with the purpose of promoting the city’s rapid economic growth. According to the agreement, CCB will offer RMB40 billion for Suzhou power, transportation and urban construction industries and infrastructure projects and another RMB10 billion of credit for small and medium-sized enterprises.  

When making a speech, Luo Zhefu noted Suzhou is located along the Tai Lake and in the hinterland of the Yangtze River Delta Economic Zone, enjoying favorable natural conditions and magnificent cultural essences. It is well known as “the heaven of water” and “the home of silk”. In recent years, Suzhou has worked hard to make best use of its geological advantages, focus on changing the economic growth model, advance industrial restructuring and speed up export-oriented economic growth. The city increasingly gains vim and vigor and has made remarkable achievements of economic growth and social progress.

Over years, CCB has been an active player in and supporter for Suzhou’s economic development and established close cooperative relations with the local government in the process of serving the regional development strategy. After consulting the Suzhou municipal government, CCB will, in line with the national macro economic, industrial, regional development and related credit policies and Suzhou’s eleventh five-year development master plan, offer RMB40 billion for Suzhou’s transportation and urban construction industries and infrastructure projects and another RMB10 billion of credit for small and medium-sized enterprises to promote the rapid and healthy development of the city’s economy. CCB will follow its strategic vision of “being an international leading commercial bank providing customers with the best services, creating maximum value for shareholders and offering the best development opportunities to employees” and make best use of its advantages to provide better financial services for Suzhou’s economic and social progress.

Cao Fulong, First Deputy Mayor of Suzhou and officials from Suzhou Central Branch of the People’s Bank of China, Suzhou office of China Banking Regulatory Commission, Suzhou Municipal Development and Reform Commission, Suzhou Municipal Economic and Trade Commission and Suzhou Municipal Finance Bureau attended the signing ceremony.