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BOC, Insurance Firm to Cooperate in E-Business
The Bank of China and Ping'an Insurance Company Tuesday signed an agreement on E-business cooperation.
Under the agreement, the bank's computer system will be linked to the insurance company's business website -- Pa18. com -- which is due to go into service on August 18th.
Customers will be able to buy and sell stocks, buy insurance, purchase goods and manage their bank accounts on-line.
This is the first instance of cooperation between a Chinese commercial bank and a life insurance company.
It is expected to help both sides to increase their competitiveness in the markets and reduce financial risks.
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