CCB will grant RMB24.5 billion of credit line to China Resources 

On March 10, 2006, in addition to the 2003 agreement, CCB and China Resources Enterprise, Limited signed another Strategic Cooperation Agreement according to which CCB will provide China Resources with RMB24.5 billion of credit line and greater financial support for the company’s future growth, marking a major improvement of bilateral cooperative relations and opening new cooperation areas. Luo Zhefu, Vice President of CCB, and Song Lin, General Manager of China Resources attended the signing ceremony and delivered speech respectively.  

It is said that after almost three years of cooperation CCB and China Resources have established solid and close relations with mutual trust. In addition to the deposit, credit, international and intermediary services already offered to China Resources, CCB will make best use of its rich resources and expertise to provide China Resources with RMB24.5 billion of credit line and greater financial support for its future growth.  

As a company under the direct control of the State-owned Assets Supervision and Administration Commission, China Resources is based in Hong Kong and oriented towards the mainland, growing pace by pace with the Hong Kong and mainland economies. Over more than 50 years, China Resources has been following the credible and sound business track and growing through consolidating resources and attracting human resources. Today it has become one of the most powerful comprehensive enterprises in both mainland China and Hong Kong. China Resources has established a strategic management system, strengthened competitiveness of core business, built a leading position in multiple business sectors and is well known as a blue chip company of Hong Kong index share.  

Over years CCB has developed unique advantages in offering commercial banking services and enjoys a leading position in such areas as infrastructure credit, housing mortgage loan and bank card services in the domestic banking industry with a strong customer base composed of governments, enterprises and individual residents. By the end of June 2005, CCB’s total assets amounted to RMB4.2 trillion and total credit reached RMB2.37 trillion. It wins The Banker Award 2005 for China. On October 27, 2005, CCB was listed in Hong Kong and awarded the “Best Deal” “Best Equity Deal” and “Best IPO” by The Asset Triple A Asian Awards, making a breakthrough of state-owned commercial bank reform and a historical step towards the goal of developing into a leading global bank.  

all-round cooperation between CCB and China Resources enjoys promising prospects and is beneficial to the common development of both parties. CCB will focus on the “customer-oriented” business philosophy to improve financial service capacities and provide, as always, full financial support for the business growth of China Resources. Such a sincere bilateral cooperation will help build a partnership with mutual benefit and reciprocity and enhance the brand and competitiveness of both.