Huangpu district signed a comprehensive strategic cooperation agreement with the Bank of Communications (BOCOM) to solve the problem of financing for private and medium-sized and small enterprises on Dec 25.
According to the agreement, the Guangdong provincial branch of BOCOM will provide 100 billion yuan ($14.5 billion) of credit limit for Huangpu district and the Guangdong Development District to support their strategic adjustment, asset management reform and upgrading of industrial structure.
Zhou Yawei, member of the Standing Committee of Guangzhou Committee of CPC and Party secretary of Huangpu district, and Zhou Baozhi, president of the Guangdong Branch of BOCOM attended the signing ceremony.
BCM has maintained a profound relationship with Huangpu district for ages. In the fields of new urbanization construction, capital construction financing, bond bridge financing and bond underwriting, the two sides have continuously carried out multi-level and all-round cooperation, creating a new level of cooperation between banks and governments.
The signing of this agreement marks a new opportunity for BOCOM to fully integrate into the construction of Huangpu district and the Guangzhou Development Zone. Both sides will further strengthen cooperation and promote the development of the financial industry in Huangpu district and the Guangzhou Development Zone to deepen the integration of financing and the real economy.