CPI, ABC formulate strategic cooperation

A strategic cooperation agreement was signed between CPI and Agricultural Bank of China was held in Beijing.

 The signing of this agreement marks a new historic stage of full-scale strategic cooperation between the two sides and will surely improve the brand images and competitive advantages of both sides in respective fields and write a new chapter of mutually beneficial and faith-based bank-company cooperation between CPI and ABC.

According to the agreement, ABC will regard CPI as the key customer at the corporate level and grant CPI provisional credit line of 100 billion Yuan and provide CPI with a wide range of financial services and business support, including bank financing, investment banking, and settlement in local and foreign currencies, cash management, deposits and wealth management services. Meanwhile, CPI will regard ABC as one of its preferred banking partners for various financial services.

CPI’s balance of loans from ABC amounted to 23.316 billion Yuan by end of March, 2011, involving 72 CPI’s subsidiaries. This makes ABC one of the largest banking partners of CPI.