31 st August 2005 This morning, Industrial Bank Changsha Branch and China Netcom Hunan branch held the signing ceremony for the “All-round Business Cooperation”. Attendants included Mr. Tang Qinglin, President of the Changsha Branch; Vice Presidents Mr. Luo Chong and Mr. Fang Zhiyong; the heads of each department of Industrial Bank Changsha; Mr Zhang Zhe, General Manager of China Netcom Hunan ; Vice General Manager Mr. Xiao Heping and the heads of each department of China Netcom Hunan .

As the initiator of this project, the Electronic Banking Center of Industrial Bank Changsha Branch noticed in advance that the charging system is the main bottleneck which hampered the development of Hunan CNC. With only one outlet, most money collection by Hunan CNC was handled by door-to-door mode, which resulted in high labor cost, inefficient money return and high capital risk. To improve this situation, “Online Agent Collection + Online Payment + Counter Agent” solution was supplied by Industrial Bank Changsha Branch as the centerpiece of business proposal. After a period of continual ideal exchanges of the heads of Netcom's finance, customer service, maintenance and other departments, Industrial Bank Changsha Branch achieved unanimous approval for the agreement.

The agreement covers a variety of business range, including saving, credit ＆loan, internet banking and intermediary services. It is a win-win game that share market resources as well as actualized mutual development.