Agricultural Bank of China : ABC Fujian FTZ Fuzhou Area Branch Officially Unveiled
May 22, 2015 at 06:39 am EDT
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On April 21, 2015, the same day as China (Fujian) Pilot Free Trade Zone (FTZ) was launched, Fujian Pilot FTZ Fuzhou Area Branch of Agricultural Bank of China Limited (ABC) was officially unveiled for business.
After the unveiling ceremony, ABC Fujian Branch signed the cooperation framework agreement on free trade zone business with seven major enterprises. Such enterprises include Fujian Mawei Ship Building Co., Ltd., Fujian Guomai Group Co., Ltd., Fujian Zhongjing Petrochemical Co., Ltd., Fujian Sunshine Group Co. Ltd., Fujian E&D Group Co., Ltd., Korner Stone Materials Technology Co., Ltd. and Eading Group Co. Ltd.
Mr. Fu jinrong, Vice President of ABC Fujian Branch, said this was the start of mutual complementarity, sharing of reform bonus of the FTZ and win-win mutual benefit between ABC and enterprises. The two parties will strive to build the new platform and mechanism for cooperative development and improve strategic coordination and level of their respective free trade zone business, so as to jointly realize new frogleap in strategic development.
ABC Fujian Branch will exploit its comprehensive advantages in capital, settlement, product and human resource. It will provide its strategic partners with various free trade zone financial services such as mid and short-term working capital loans, project financing, letter of credit, import/export documentary bills, forfeiting, export factoring, and global cash management. It will also provide "Ying Fu Tong" portfolio wealth management, capital willingness exchange settlement, cross-border two-way RMB capital pool and foreign exchange centralized operation.
According to its business plan and new policies of the FTZ, ABC Fujian Branch will organize specialized teams in financing consultation and provide technical support and supporting financial services. It will also collect preferential policies of the FTZ and customize financial products for customers as a priority. By fully using domestic and overseas subsidiaries or agencies and the capital advantage, it will offer real-time preferential quotations and expand financing channels for enterprises via cross-border loans in local and foreign currencies to reduce financing cost. The Branch will also provide all-round financial services such as consultancy in investment and wealth management, product promotion meetings and financial seminars. The enterprises that signed the agreement will assist ABC with innovation and development of financial products. They will be the first to try ABC featured products in the FTZ and share produce experience or feedbacks, so as to truly realize win-win result between ABC and enterprises.
AGRICULTURAL BANK OF CHINA LIMITED is a China-based commercial bank. The Bank mainly operates through four business segments. The Corporate Finance segment is engaged in the deposit and loan business, small and micro business finance, settlement and cash management, trade financing and investment banking, among others. The Personal Finance segment is engaged in personal deposit and loan, credit card business and private banking business. The Treasury segment is engaged in money market business and investment portfolio management. The Asset Management segment is engaged in the provision of financial services, asset custody business, pension business and precious metal business.
AGRICULTURAL BANK OF CHINA LIMITED 
