CCB fuels the rapid economic growth of Jiangsu

To offer RMB150 billion of financial support to Jiangsu during the Eleventh Five-year Plan Period 

On February 22, Li Yuanchao, Sectary of CPC Jiangsu Provincial Committee, Liang Baohua, Governor of Jiangsu province, and Guo Shuqing, Chairman of China Construction Bank Corp. (CCB), conducted talks on furthering the cooperation between bank and government. The next day CCB and Jiangsu provincial government held in Nanjing the signing ceremony of the Strategic Cooperation Agreement on Supporting Key Projects and Enterprises which Li Yuanchao, Liang Baohua and Liang Shuqing attended. Guo Shuqing and Liang Baohua delivered a speech respectively, and Luo Zhefu, Vice President of CCB and Wu Ruilin, Deputy Governor of Jiangsu signed the agreement. According to the agreement, during the eleventh five-year plan period CCB will provide RMB120 billion of financial support to the key projects and enterprises of Jiangsu province and RMB30 billion to small and medium-sized enterprises. The cooperation is of great importance to enhancing complementarities between the commercial bank and government and promoting the sustainable development of Jiangsu’s economy and CCB’s business as well.

When making a speech, Liang Baohua noted that finance is the core of modern economy. The local government is fully confident of realizing the virtuous cycle of economy and finance and hopes during the eleventh five-year plan period CCB will actively offer all-round support for the rapid growth of small and medium-sized enterprises while continuously supporting Jiangsu’s key projects, backbone industries and large enterprises. Jiangsu provincial government will also try its best to support and help CCB-funded projects and the comprehensive cooperation between the bank and enterprises.

Guo Shuqing, in his speech, said Jiangsu is located in the rich and popular Yangtze River Delta. With an advantageous location, solid industrial foundation, a fairly developed export-oriented economy, a large number of human resources and technological strength, Jiangsu holds a strategic position in the national economic landscape. CCB is a multifunctional and comprehensive modern commercial bank. Its successful IPO in Hong Kang on October 27, 2005 marks a breakthrough of state-owned commercial bank reform. Over years CCB has been an active player in and supporter for Jiangsu’s economic growth and established close cooperative relations with the local government in the process of serving Jiangsu’s regional development strategy. CCB will follow its strategic vision of “being an international leading commercial bank providing customers with the best services, creating maximum value for its shareholders and offering the best development opportunities to its employees” and make best use of its advantages to provide better financial services for Jiangsu’s economic and social progress.

Xie Duyang, Chairman of CCB’s Board of Supervisors, Xin Shusen, CCB Vice President, Zhang Xiangdong, CCB Director and Yu Yongshun, CCB Chief Auditor, Wu Ruilin, Deputy Governor of Jiangsu province and Jiang Hongkun, Mayor of Nanjing were present at the ceremony.