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BOC & SPDB Sign Comprehensive Cooperation Agreement
Liu Mingkang, board chairman and president of Bank of China, and Jin Yun, president of Shanghai Pudong Development Bank, signed a comprehensive cooperation agreement in Beijing on November 7, under which the two sides agree to share resources and complement each other in advantages, so as to jointly enhance the competitiveness of China's national financial business.
The signing of this agreement represents an attempt of both sides to explore ways for cooperation between State-owned and stock-holding commercial banks. According to the agreement, the two banks will carry out cooperation in such fields as finance, retail sales, company business, international settlement, foreign exchange clearing, capital remittance, the sharing of information resources, business exchange, and personnel training.
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