Qinzhou, ICBC to boost cross-border financial cooperation

A promotion conference on the subject of strengthening cross-border financial cooperation was held in Qinzhou, South China's Guangxi Zhuang autonomous region on May 9.

Co-sponsored by the Qinzhou municipal government and the Guangxi branch of the Industrial and Commercial Bank of China (ICBC), the promotion conference is expected to strengthen the financial cooperation between Qinzhou and banking institutions, as well as actively promote the development of the New International Land-Sea Trade Corridor.

ICBC, China's largest commercial lender by assets, will make full use of its advantages to encourage local enterprises to go global. It will offer support to private, micro, and small enterprises to develop and grow, as well as stimulate the growth of cross-border e-commerce, to provide all-around financial support for Qinzhou, according to Zhang Weiwu, general manager of ICBC's International Business Department.

Boasting unique advantages in its location and port, Qinzhou has grown into the largest container port at the Beibu Gulf Port, which is also a central point frontier in the China-ASEAN Free Trade Area. Over the past two years, the city has pushed forward the development of some major industrial projects and introduced a batch of well-known enterprises from home and abroad. With the support of ICBC, the city is expected to usher in a new period of growth.

At the conference, the municipal government reached a strategic cooperation agreement with the Guangxi branch of ICBC, and both sides will strengthen cooperation to speed up cross-border financial innovation to facilitate the construction of an open financial portal for ASEAN countries.