SMTCL and ICBC Head Office Ink Bank-Enterprise Strategic Cooperation Agreement   09.28.2011

   On September 28, Shenyang Machine Tool Co., Ltd. (hereinafter referred to as SMTCL) and ICBC Head Office jointly signed a Bank-Enterprise Strategic Cooperation Agreement in Beijing.

   According to the agreement, ICBC Head Office will provide SMTCL with annual loan line of above RMB 5 billion during the 12th Five-year Plan period, with total loan size hitting RMB 30 billion, which gives a fresh impetus to the relationship of “Communication, Cooperation, and Win-win” between the bank and enterprise.

   With strategic transformation of the economic structure, ICBC actively intensify its support to SMTCL, and it continuously make innovations in product, service, and process to put forward financial service models and products tailored to SMTCL, in order to boost SMTCL’s strategic transformation and technical reconstruction. Presently, ICBC, on the basis of continuing the traditional financial cooperation, actively provides SMTCL with multi-channel, diversified, multi-variety, multi-mode, and all-round comprehensive financial services including bonds underwriting, financial leasing, cash management, and corporate annuity etc. Meanwhile, ICBC will actively develop services in respect of derivative transaction and foreign exchange funds, in an effort to assist the company in “Going Global” and to offer forceful financial support for the company’s constant growth.

   The signing ceremony was attended by Che Xinjia, President of SMTCL, Li Shuangshan, Vice President of SMTCL, Yang Kaisheng, President of ICBC Head Office, Yi Huiman, Vice President of ICBC Head Office, Dai Chunlin, President of ICBC Liaoning Provincial Branch, and Wang Zhongyin, Vice President of ICBC Liaoning Provincial Branch etc. On behalf of SMTCL, Che Xinjia signed the strategic agreement, signifying that the company not only strengthens its financing capacity and meets its demands for leapfrog development, but also improves its awareness and brand image at home and abroad. It is undoubted that the world largest bank ICBC and the world manufacturing tycoon SMTCL are bound to forge a firm partnership. 

   At the signing ceremony, Che Xinjia, on behalf of four contractual enterprises from Liaoning Province, delivered a speech, in which he pointed out that signing of the strategic cooperation agreement would serve as a new starting point and a new impetus to close coordination and joint progress. “Based on the strategic cooperation agreement, The two sides will establish a new-type bank-enterprise relationship, in order to develop a broader and deeper partnership”, noted Che.

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