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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 CCDC has 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.

Under the 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.

    Publish on :09/27/2017 13:33
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