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China Chengtong signed strategic cooperation agreement with CZBank

General Office     2020-08-17         

China Chengtong and China Zheshang Bank (CZBank) signed the strategic cooperation agreement on August 17 at China Chengtong’s headquarters. China Chengtong’s Chairman Zhu Bixin and his CZBank counterpart Shen Renkang attended the signing ceremony and exchanged views on further cooperation. China Chengtong’s General Accountant Chen Yong and CZBank President Xu Renyan signed the agreement on behalf of each side.

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In the signing ceremony, Zhu Bixin introduced China Chengtong’s history of development and achievements attained since becoming the pilot state capital operating company. Zhu underlined China Chengtong’s operation in four major areas, namely, fund investment, equity management, assets operation and financial services, and also the Group invested business in warehousing and logistics, paper investment, trade business and reform of China Railway Materials Group Corporation (CRM). Zhu said that CZBank with a solid foundation and comprehensive risk-control network has witnessed fast growth and registered good performance in profits. Locating in Zhejiang, CZBank has a nation-wide sound and healthy business operation, and has also provided support to China Chengtong and CMC’s reform and development. China Chengtong is willing to carry out further cooperation with CZBank in share-based management, bond financing, fund investment and equity operation.

Shen Renkang introduced CZBank’s strategic positioning and expressed his gratitude to China Chengtong for its trust over the years. Shen noted that the bilateral business cooperation would be enhanced thanks to the signing of the strategic cooperation agreement. CZBank will provide a full-scale integrated financial service to China Chengtong by make full use of its advantages in intellectual manufacturing service, platform-based service, and innovative financial technology service.

The strategic partnership between China Chengtong and CZBank is aimed at strengthening the cooperation between state capital operating platform and CZBank’s financial service platform. The elevated bilateral cooperation level will help enhance both parties’ core competitiveness in their respective fields and gain benefits for the two sides via shared resources, which will also play an important role in exerting the Group’s state capital operating platform feature, improving central SOEs’ state capital layout and structure and reinforcing the operation efficiency of state capital allocation.

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