Bank, Insurance Company Sign Cooperation AgreementThe Construction Bank of China and the China Pacific Insurance Company Ltd signed an agreement Monday to conduct overall cooperation across the country.The two sides promised to cooperate in insurance marketing, insurance fee settlement, contracted deposits, fund pooling and e- business. Both the bank and the company said that they believed that this measure was taken to meet the challenge of China's future accession to the World Trade Organization (WTO). The Shanghai-Based China Pacific Insurance Company Ltd has enjoyed cooperative relations with the Construction Bank of China for many years. Such relations are believed to have effectively cut the management costs of the insurance company and provided new business for the bank. Nearly 800 pairs of branches of the bank and the company had signed cooperation contracts concerning property and life insurance by the end of last year. |
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