Shanghai Branch of Bank of Communications provides RMB 30 billion to support COSCO SHIPPING Heavy Industry
2017-04-01 09:00
On March 31, COSCO SHIPPING Heavy Industry Co., Ltd. and the Shanghai Branch of the Export-Import Bank of China held a signing ceremony for a strategic cooperation agreement. Over the next three years, the total amount of intended cooperative business between the two parties will reach 30 billion yuan. They will conduct comprehensive cooperation in areas such as credit and guarantees, and work together for development. Liang Yanfeng, General Manager of COSCO SHIPPING Heavy Industry Co., Ltd., and Li Li, President of the Shanghai Branch of the Export-Import Bank of China, attended the signing ceremony.
COSCO SHIPPING Heavy Industry's chief accountant, Yu Jianzhong, stated in his address that in recent years, the Export-Import Bank of China has conducted extensive cooperation with COSCO SHIPPING Heavy Industry in areas such as ship export seller's credit, letter of credit business, and international settlement. Yu Jianzhong stated, "For many years, the Export-Import Bank of China has provided strong financial support for the reform and development of COSCO SHIPPING Heavy Industry and its affiliated enterprises, helping us to cope with market changes and gradually grow stronger."
In recent years, the Export-Import Bank of China has consistently adhered to the principles of friendly cooperation and win-win development, conducting extensive cooperation with COSCO SHIPPING Heavy Industry in areas such as ship export seller's credit, letter of credit business, and international settlement. Leveraging its policy-based, international, and professional comprehensive advantages, the Export-Import Bank has provided COSCO SHIPPING Heavy Industry with a large amount of fast and convenient financial services, playing an irreplaceable and important role in promoting the company's sustained development.
Currently, the international political and economic and trade landscape is undergoing profound changes, with increasing instability and uncertainty in the global economy. The shipbuilding industry faces many unfavorable factors, such as supply and demand imbalance and market downturn. The signing of this strategic cooperation agreement marks a new stage in the cooperation between COSCO SHIPPING Heavy Industry and the Export-Import Bank of China. The Shanghai branch of the Export-Import Bank of China stated that it will provide COSCO SHIPPING Heavy Industry with a full range of financial services based on the principles of "comprehensive cooperation, equality and mutual benefit, long-term stability, and common development." This will support COSCO SHIPPING Heavy Industry in building a leading Chinese and world-class shipbuilding and marine engineering equipment manufacturing enterprise, promoting long-term cooperation and common development between the bank and the enterprise.
