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CCB Joins Hands with Shandong Securities Firm
The China Construction Bank (CCB) Thursday signed an agreement with Shandong Securities Co. Ltd. to establish a strategic cooperative partnership.
According to the agreement, the two sides will carry out all- round cooperation in such fields as securities-based mortgage loans, securities capital settlement, call loans, treasury bonds redemption, asset management, financial consultation, investment banking, trust funds, credit card and other businesses.
The CCB will act as the host bank for Shandong Securities Co. Ltd., a CCB spokesman said, adding that the CCB will provide comprehensive financial services for the securities firm to support its development.
To date the CCB has established cooperative business relations with over a dozen national securities firms and a large number of provincial level securities firms.
The Shandong Securities Co. Ltd. is one of China's first securities firms, making an annual average profit of 280 million yuan for the past three years in succession. Just recently the firm expanded its registered capital from 508 million yuan to 2. 048 billion yuan.
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