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BOC Signs Cooperative Agreement with B&Q
The Bank of China (BOC) signed an agreement with B&Q China under the world-famous Kingfisher Plc. recently to establish a long-term and stable strategic partnership of cooperation.
According to the agreement, the BOC, as the major business bank of B&Q, will offer a complete set of financial services to B&Q including credit extension, capital settlement, retail sales and information consultancy.
Kingfisher of the U.K., with an annual turnover of 17 billion US dollars, ranks among the world's fortune 500. Its exclusively financed subsidiary - the B&Q - is a transnational enterprise operating chain-store supermarkets on construction materials.
So far, it has opened over 600 chain stores in 14 countries and ranks top among similar companies in Europe and the third worldwide in terms of turnover.
It has so far set up several stores in China, located in Shanghai, Tianjin, Nanjing, Hangzhou and other cities respectively.
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