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Bank in Shanghai Cooperates with US Insurance Firm
The Bank of Communications of China Shanghai branch signed a cooperation agreement with the Shanghai subsidiary of the American International Assurance Co., Ltd Thursday, November 30.
Under the agreement, the two sides will cooperate in running an insurance agency, sharing client resources and training special personnel.
According to industry sources, this is the first comprehensive cooperation between a Chinese bank and a foreign insurance company, which will further benefit local residents while helping local financial and insurance businesses to face the challenges after China's entry into the World Trade Organization.
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