Industrial Bank Signs Strategic Cooperation Agreement with China Unicom

On November 30, the Industrial Bank and China Unicom held a grand ceremony for the signing of a strategic cooperation agreement in Fuzhou . Senior officials from both companies attended the signing ceremony, including Mr. Li Renjie, President of the Industrial Bank, Mr. Chen Dekang and Mr. Lin Zhangyi, deputy Presidents of the Industrial Bank, Lu Yimin, President of China Unicom and Jiang Zhengxin, senior vice president of China Unicom. The signing of this strategic cooperation agreement marks the beginning of a new phase of cooperation between the two parties.

Under the agreement, both companies will make further use of service advantages in their respective professional fields, grasp the significant market opportunities brought about by the arrival of the mobile internet era, further enhance cooperation in basic communication, finance service, mobile internet application, joint innovation and marketing, jointly promote innovation in mobile finance products, and jointly branch into the strategic fields of mobile payment, mobile banking, mobile business and value-added business so as to steadily improve the standard of mobile finance services.

According to Mr. Lu Yimin, President of China Unicom, the signing of the strategic cooperation agreement will allow for the establishment of a closer strategic partnership between the two companies and the promotion of common development and long-term cooperation between banks and enterprises. The strategic cooperation agreement is intended to fully explore and utilize the strengths of both parties in their own fields on the basis of providing quality services for customers. Based on the aim of improving the application level of banking finance products and services and telecommunications service standards, it will involve joint efforts to explore and determine plans to realize mobile payment business, develop value-added services for individuals and corporate clients and various auxiliary services for mobile payment, promote 3G VPDN wireless data network based on WCDMA and build and improve an industrial environment for mobile e-business. These things will be attained through a package of telecommunication solutions provided by China Unicom.

According to Li Renjie, President of the Industrial Bank, the Industrial Bank has always adhered to the service philosophy of “sincere services for common growth”, and has utilized the latest technologies in an effort to provide comprehensive, quality and effective mobile finance services for customers. So far, the Industrial Bank has built a leading mobile bank in the industry as well as a unified SMS service platform. With the coming of the mobile internet era, the conditions are in place for the provision of higher quality and more efficient finance services to customers through mobile internet terminals, particularly mobile phones. The signing of the strategic cooperation agreement will help the Industrial Bank speed up the development of mobile payment, mobile banking and mobile business under the considerable technical support of China Unicom. This will allow the bank to provide high-quality and low-price mobile finance services for its customers.

As one of China's earliest joint-stock commercial banks, the Industrial Bank was founded with the approval of the State Council and the People's Bank of China in August 1988. The bank was listed on the Shanghai Stock Exchange on February 5, 2007. In 2008, it became the first bank in China to adopt the Equator Principles. By the end of September 2010, the total assets of the Industrial Bank were valued at RMB 1.8103 trillion Yuan and its net profit from the first three quarters of the year totaled at RMB 13.6 billion Yuan. According to the rankings of the World's Top 1000 Banks released by Banker magazine in July 2010, Industrial Bank Co., Ltd ranked at 93 in terms of total assets and 97 in terms of Tier 1 Capital. In the rankings of the Global 2000 Largest Public Companies released by Forbes, Industrial Bank Co., Ltd ranked 245 overall and ranked 14 among the 113 Chinese mainland enterprises that made the tables. This meant that the bank had become one of the world's top 300 republic companies.

China Unicom is a state-owned super-large telecommunications enterprise whose branches cover all provinces of China (including autonomous regions and municipalities directly under the Central Government) and numerous overseas countries and regions. It is the only Chinese telecommunications enterprise to be listed in Hong Kong , New York and Shanghai simultaneously. At present, China Unicom is endeavoring to realize its development vision of becoming a “Leader of Innovative Services in Information Life” and is focus on implementing the “3G Leading and Integrated Innovation Strategy” to provide all-round and high-quality telecommunication services for customers.