OREANDA-NEWS.May 05, 2012. Baosteel Group Co., Ltd. and Shanghai Pudong Development Bank sign "bank-enterprise strategic cooperation agreement at Pudong Development Bank headquarter  building, No 12, the Bund. Baosteel Group Co., Ltd., chairman Xu Lejiang and Pudong Development Bank chairman Ji Xiaohui attend the ceremony. Baosteel Group Corporation deputy general manager Zhou Zhuping and Pudong Development Bank deputy general manager Liu Xinyi sign the agreement on behalf of the two sides, reported the press-centre of Baosteel. 

Pudong Development Bank plays an important role in China's banking industry. In recent years, Pudong Development Bank vigorously promotes financial innovation, strives to build a modern financial service company with core competitive advantage and has made remarkable achievements.Baosteel and Pudong Development Bank has a good foundation for cooperation. Over the years, Pudong Development Bank provides Baosteel steel main business, production service business, steel extension processing and engineering and technical service business with financial service in various forms and channels.At the same time, around the common development points, the two sides follow the new situation, grasp new opportunities and continue to expand cooperation space. At present, China's financial sector and steel industry had entered a new stage of development. To launch strategic comprehensive cooperation partnership and promote the mutual development of bank and enterprise, Baosteel and Pudong Development Bank reach long-term cooperation consensus.

The signing of "bank-enterprise strategic cooperation agreement " marks that the cooperation between the two sides will reach a new level.It is reported that according to the agreement, the two sides will establish long-term strategic partnership, actively engage in constructive business cooperation in the financial field, give full play to their respective industrial advantages, integrate their resources to achieve good economic benefits, realize complementary advantages and win-win cooperation and gradually establish Baosteel Group - Pudong Development Bank strategic alliance. For better implementation of the strategic partnership, the two sides will set up "bank-enterprise strategic cooperation group" responsible for organizing and coordinating the implementation of the specific business cooperation programs by subordinated units.

Ji Xiaohui says at the signing ceremony that Pudong Development Bank will focus on Baosteel's diversified buisness, actively assist Baosteel transitional development and provide Baosteel's new round of development with a full range of comprehensive financial service and support characterised with innovative products, innovative service, efficiency and flexiblity and cross-regional linkage.

Xu Lejiang says in his speech that the signing of "bank-enterprise strategic cooperation agreement" indicates that Baosteel and Pudong Development Bank follows the developmental pace of the age and form close cooperation relationship between bank and enterprise. He hopes that while dealing with the challenges and speeding up the process of development, both sides will further expand and deepen the strategic cooperation, further enhance their own competitiveness through mutual benefits and seek greater development.