China Zhongwang and Bank of China announced a strategic financial cooperation for supply chain operations and jointly held a signing ceremony at China Zhongwang’s Liaoning headquarters on 20 May 2011.

The signing ceremony was attended by Mr. Wang Guanru, deputy general manager of Liaoning Zhongwang Group, Mr. Jiang Xu, assistant general manager of the international settlement division of the financial service department of Bank of China, and Mr. Yang Yufeng, vice president of the Liaoyang Branch of Bank of China.  Officiating at the ceremony was Mr. Tian Shiwen, president of the Liaoyang Branch of Bank of China.

On behalf of Zhongwang, Mr. Wang Guanru expressed his sincere gratitude to Bank of China for their utmost support to Zhongwang. Mr. Wang commended Bank of China’s commitment to pursuing excellence and its prudent operations over the last century which contributed to defining a clear corporate image for the Bank. Presented with unprecedented expansion opportunities, Liaoning Zhongwang Group, adhering to the principle of “equality, mutual benefits and integrity”, regarded Bank of China as a very important long-term strategic partner. The two parties will jointly explore long-term growth opportunities by stepping up communication to seek mutually beneficial cooperation. 

Mr. Jiang Xu of Bank of China gave high remarks to China Zhongwang.  Ever since its successful listing on the main board of the Stock Exchange of Hong Kong on 8 May 2009, Zhongwang has transformed itself from a product-driven private company with indirect financing channels to a public company with effective capital operation and a direct financing platform. It has undergone brand internationalization to bring the company to new dimensions.  Bank of China will leverage its international business platform to support the development of Zhongwang and offer high quality services to grow hand-in-hand together.

The signing of the strategic financial cooperation agreement for supply chain operations will turn a new chapter for China Zhongwang and Bank of China in fostering closer win-win cooperation.