June 5 in Taiyuan city, Industrial Bank signed together with 7 Shanxi financial institutions for large-scale institutional cooperation agreement which gave prominence to the theme of "Common Prosperity, Harmonious Finance".
8 financial institutions participated in this cooperation includes Industrial Bank, Shanxi Rural Credit Cooperative Unions, Shanxi Trust and Investment Corporation Ltd., Shanxi Securities Co., Ltd., Shanxi Postal Savings & Remittance Bureau, Shanxi Small and Medium-size Enterprises Guarantee Co., Ltd., Taiyuan Commercial Bank and Datong Commercial Bank. This agreement covers almost half of the financial institutions in Shanxi province. Such large-scale cross-industry cooperation is the first case in Shanxi province even in a nationwide financial industry range.
According to the agreement, Industrial Bank will cooperate with 7 financial institutions for business including deposit and lending of RMB and foreign currency, inter-bank fund borrowing, transfer of credit assets, bill discount, agent of trust product, bank-security transfer, co-launch of wealth management products, agent of third-party custody, assets management, investment banking and trust service. The cooperation also covers realization of the interconnection of network and inter-bank transfer, interaction of complementary advantages on information sharing, HR cultivating and assets business such as inter-bank syndicated loan and co-financing. For the future, with the speeding up of financial innovation, the depth and width of cooperation among the above institutions will be ulteriorly developed.
The above move imposed great influence on competitive forms of Shanxi financial industry. More significant meaning of the move is that it introduced into the specialized and diversified cooperation system of modern financial service industry, and blazed a new phase of all-round and diversified cooperation among financial institutions.