CCDC and ABC Signed a Comprehensive Strategic Cooperation Agreement
On September 26, 2017,
China Central Depository & Clearing Co., Ltd. ("CCDC") and China
Agricultural Bank Co., Ltd. ("ABC") held a comprehensive strategic
cooperation agreement signing ceremony in Beijing. Chairman Shui Ruqing, President
Chen Gangming and Vice President Liu Fan of CCDC, and President Zhao Huan and
Vice President Kang Yi of ABC attended and witnessed the signing ceremony.
Chairman of CCDC, Mr.
Shui Luqing, gave a brief introduction to the company and its cooperation with
the Agricultural Bank of China. He noted that CCDChas always actively
supported the business development of ABC in the financial market, and this
agreement marked a new stage of two sides’ cooperation. He hoped that the two
sides continued to detail the "comprehensive strategic cooperation
agreement" to help deepen the cooperation, consolidate the close ties, and
bear more fruits from cooperation.
President Zhao Huan said
that the Agricultural Bank of China is the first commercial bank set up in PR China.
After 66 years of continuous development and growth, it has evolved as a large
state-owned commercial bank group with a full urban and rural coverage, an international
reaching, and fully-fledged functions. Since 2014, the Agricultural Bank has
been selected as one of the Global Systemically Important Financial
Institutions and one of the major comprehensive financial service providers in
China for three consecutive years. The signing of a comprehensive strategic
cooperation agreement with CCDC envisages a further expanded area of
cooperation between the two sides. He hoped ABC and CCDC will strengthen the cooperation
in bridging the real economy and financial services, actively fulfilling the social
responsibilities of state-owned financial institutions, and helping promote the
supply side reforms by servicing the real sectors in a win-win manner.
agreement, based on "good faith, equality and mutual benefit, long-term
cooperation and common development" principle, the two parties shall
maintain a comprehensive
strategic cooperative relationship.In the future, the two parties will jointly promote innovations
in the bond market, internationalization of China bond market, the development
of the green bond and the asset-backed securities market, and shall strengthen
the cooperation in the branch-level cooperation, domestic and cross-border settlement,
FTA business and overseas outreach organization, with a view of promoting
reforms and innovations and secure win-win outcomes.