Hunan Government, Bank of China Sign Cooperation Agreement

The People's Government of Hunan Province and the Bank of China (BOC) Limited signed a comprehensive strategic cooperation agreement in Changsha on the morning of February 28, 2024. The two sides will carry out in-depth collaboration in such areas as accelerating the "4 × 4" modern industrial system construction, enhancing high-level opening-up, and building Hunan into a digital powerhouse.

Shen Xiaoming, secretary of the CPC Hunan Provincial Committee, witnessed the signing ceremony. Mao Weiming, deputy secretary of the CPC Hunan Provincial Committee and governor of the People's Government of Hunan Province, met with Ge Haijiao, secretary of the CPC Committee and chairman of the Board of Directors of BOC.

On February 28, the provincial government and BOC signed a comprehensive strategic cooperation agreement in Changsha. Secretary Shen, Governor Mao, and BOC Chairman Ge witnessed the signing ceremony.

Zhang Yingchun, member of the Standing Committee of the CPC Hunan Provincial Committee and executive vice governor, and Zhang Xiaodong, vice president of BOC, signed the agreement.

Governor Mao remarked that BOC is China's most international and diversified bank, with global financial expertise and local experience. In recent years, the bank has deeply rooted in and serving Hunan; actively assisting in its "Three Hubs" construction; and, cultivating and expanding business entities, thereby contributing significantly to the high-quality development of Hunan Province.

He hoped both sides would take the agreement signing as a new starting point, to strengthen partnership in the building of a modernized industrial system, preventing and resolving financial risks, and promoting high-level opening up. Hunan and BOC may expedite joint efforts to boost sci-tech, green, inclusive, pension, and digital finance. Hunan government will continue to optimize the financial ecology, improve the business environment, and fully support the healthy advancement of various financial institutions such as BOC in the province, he added.

Governor Mao and Chairman Ge held a work conference before the signing ceremony.

Chairman Ge thanked Hunan for its strong support for BOC's development. He noted that BOC would give full play to its advantages of globalization and integration, to assist Hunan in the "Three Hubs" construction, develop inclusive finance, and safeguard and improve the people's livelihoods. The bank would further optimize its financial products and services, to make more contributions to Hunan's beautiful blueprint for the "Three Hubs and Four New Missions" Strategy, he said.

The meeting.

According to the agreement, BOC will list Hunan as a key support region, assisting it in building a national hub of advanced manufacturing industry, digital Hunan construction, people's livelihood projects, and rural revitalization. The bank will provide Hunan with no less than 1 trillion CNY of intentional comprehensive financial service support by 2028.