On March 10, 2006, China Construction Bank Corporation (CCB) signed the Strategic Cooperation Agreement with Gemdale Corporation (Gemdale) and China Overseas Property Group Co., Ltd. (China Overseas Property) in Shenzhen respectively. Both parties will join hands to strengthen cooperation, seek win-win results and enhance common development in the real estate financial market.  

CCB official says that as the first state-owned commercial bank conducting the shareholding transformation and getting listed in Hong Kang CCB always follows the “customer-oriented” business philosophy and actively innovates financial products and services in response to customers’ real needs and choices so as to meet their increasing demand for financial services. The agreements signed between CCB and Gemdale and China Overseas Property extend their cooperation from the previously single financing service to wider areas. CCB will use its strong financial resources, nationwide network and quality services to offer its partners comprehensive services covering project loan, short-term financing, individual housing mortgage, settlement network service, investment banking, public accumulation fund and enterprise annuity.  

According to Gemdale and China Overseas Property, as two national real estate developers, they will, based on their adequate land reserve, sophisticated management expertise, effective marketing models and sound and flexible financial strategies, join hands with CCB to explore in-depth cooperation in the real estate financial sector nationwide, promote the integration of real estate and financial business and creating new real estate financing models. 

The rapid growth of the real estate market and ever deepening financial reform help broaden the cooperation between commercial banks and real estate companies. Real estate companies need the financial services of banks to expand growth, realize business objectives and enhance market competitiveness while banks need optimize and innovate products in response to market development and business requirements of real estate companies, make products reach out to customers, strengthen market competitiveness and forge sound relations with customers through providing comprehensive services.