China Development Bank and Yuexiu Group Entered into 30 Billion Yuan Development Finance Cooperation Agreement
Release Date:2015-07-14 11:17:38

In the afternoon of July 5, Yuexiu Group and China Development Bank entered into a Development Finance Cooperation Agreement in Hong Kong. General Manager Zhu Chunxiu, on behalf of the group,held the signing ceremony with China Development Bank.In accordance with the national strategy of “One Belt and One Road”, the two parties will carry out cooperation in multiple fields on the basis of complementation, mutual trust, mutual benefits and win-win.After the signing ceremony, leaders of the two parties, including Chairman Hu Huaibang of the CDB, and Chairman Zhang Zhaoxing and General Manager Zhu Chunxiu of Yuexiu Group, had a discussion.

According to the agreement, in the period from 2015 to 2019, CDB will provide Yuexiu Group with a total financing amount of 30 billion yuan to support Yuexiu Group and its subordinate business divisions in the development of investment, asset merger and acquisition and other specific projects.It is learned that CDB serves the major mid and long term development strategies for the national economy mainly by carrying on financial business including mid and long term credit and investment. It is committed to supporting the development in various fields such as national infrastructure, basic industries, backbone industries and strategic emerging industries, as well as the construction of key national projects.CDB has chosen Yuexiu Group as an important customer and partner, and will provide long-term and stable financial support and all-round financial services for the development of Yuexiu Group in the future.

According to Zhang Zhaoxing, Chairman of Yuexiu Group, the fourcompanies under Yuexiu Group listed in Hong Kong have all received the “investment grade” rating by international rating agencies, and its asset quality and operation quality is fully recognized by the capital market; after the structural adjustment and optimization and industrial transformation and upgrade in recent years, the key business indicators of Yuexiu Group have quadrupled, and the development of its core business has entered the fast lane. In recent years, Yuexiu Group has tried to consolidate its strategic relationship with major banks, so as to get more support from mainstream financial institutions for the financing of the group.The comprehensive strategic partnership with CDB further reflects the recognition and confidence of the banking industry in the operation and development of Yuexiu Group.The strategic cooperation agreement signed this time will help the two parties to achieve mutual benefits and win-win results.