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Industrial Bank Signed a Strategic Cooperation Agreement, worth RMB 10 billion, with CSR

Recently, Industrial Bank (IB) and CSR Corporation Limited (hereinafter referred to as “CSR”) signed a cooperation agreement at Beijing, fully deepening the strategic partnership between both parties. Vice President Lin Zhangyi of IB and Vice President Zhan Yanjing of CSR attended the signing ceremony and signed the agreement on behalf of both parties respectively.

Under the agreement, IB will grant an integrated credit line of RMB 10 billion to CSR and provide the latter with premium and efficient financial services in a comprehensive manner in the areas including international settlement, trade financing, investment banking, cash management, supply chain finance, and wealth management, etc.

As an extra-large equipment manufacturing group directly under the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), CSR boasts the largest research, development and manufacturing base of electric locomotive in China and the research, development and manufacturing base of CRH with world leading technologies. It is also the largest manufacturer of urban rail and metro vehicles in China. IB and CSR have a time-honored partnership, with in-depth cooperation in many areas. With the agreement executed, both parties will explore cooperation in the areas including industry fund and project financing in collaboration, assisting CSR to push forward the strategic cause of becoming an industrial pioneer and making global presence in an all-round way.

“Upon the historic opportunity of great railway development, the industrial capital and financial capital are both attractive to each other. It will play an active role in pushing the development of the bank and the enterprise to further deepen the integration of industry and financing and keep accelerating innovation in productsand services. The execution of this strategic cooperation agreement will serve as a new start point for both parties to extend cooperation areas and strengthen cooperation”, said relevant person-in-charge of CSR. 

It is said that, now, IB has signed HQ-to-HQ agreement with 16 central enterprises including State Grid, China Railway Group Limited, China National Pharmaceutical Group Corporation, and Commercial Aircraft Corporation of China Ltd., lending vigorous support the development of pillar enterprises of national economy with the arrangements such as customization and exclusive services.