OREANDA-NEWS. January 22, 2013. BOC and HNA Group signed the Strategic Cooperation Framework Agreement in Haikou. Executive Vice President Chen Siqing of BOC, Chairman Chen Feng and Director Tan Xiangdong of HNA Group were present at the signing ceremony, reported the press-centre of BOC.

According to the Agreement, both parties will establish a comprehensive strategic cooperation partnership in a manner of “free will, equality and honesty”. BOC will provide HNA Group with RMB and foreign currency financing facility with a total amount no more than the equivalent of RMB50 billion, as well as a full range of quality, efficient, preferential and customized financial services and fund supports by making full use of its own service resources; HNA Group will, under the same conditions, choose BOC as its preferential bank for its financial requirements and to conduct comprehensive cooperation in the fields of commercial banking, investment banking, insurance, aircraft lease, etc.

Bank of China is the only bank continually in business for over a century in China, and is a large banking group with cross-border businesses and significant influence in the world. HNA Group, the fourth largest aviation group in China, is one of the most important strategic partners of BOC. For a long term, both parties have been conducting all-round cooperation in deposits, financing and credit, international settlement, funds, financial consulting, insurance, personal banking, issue of securities, aircraft lease and other fields.

By leveraging the signing of the Strategic Cooperation Framework Agreement, BOC and HNA Group will seize the opportunity to push forward more extensive and closer cooperation. BOC will provide HNA Group with comprehensive quality financial services and help it develop modern service industry and carry out the “Go Global” investment strategies by virtue of its own diversified and international platforms.