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Bank of China Cooperates with Beijing University
The Bank of China and Beijing University signed a series of cooperative agreements valued at five billion yuan (about 641 million $US) on November 8 in Beijing.
The agreements include a two-billion-yuan credit line for Beijing University and three credit lines valued at one billion yuan each for the Qingniao Group, Weiming Group and the Resources Group of Beijing University.
A spokesman for the Bank of China said that another agreement worth two billion yuan is expected to be signed soon with the Founder Group of Beijing University, bringing the total amount of capital financed by the Bank of China for Beijing University and its subsidiaries to seven billion yuan.
According to the agreements, the Bank of China will draw on its international financial field strength and capital strength to provide comprehensive financial and information consulting services for Beijing University.
The Bank of China will invest mainly in Beijing University's campus construction, campus enterprises, financial aid to students and teachers' individual consumption loans.
In return, Beijing University will provide the Bank of China with personnel resources development, financial and industrial research, financial product development and other services.
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