The ZGC Development Group Signed a Comprehensive Cooperation Agreement on Financial Services with the Bank of Beijing

On July 19, 2012, the ZGC Development Group signed a comprehensive cooperation agreement on financial services with the Bank of Beijing, making breakthroughs in pursuing innovation in credit business cooperation, financial products and services, as well as the cooperation mechanism.

According to the agreement, the Bank of Beijing granted the Group a credit line of 2.5 billion yuan in the form of pure credit to meet its capital needs in merger and acquisition, bond issuance, the construction of high-tech parks and etc.

The efficiency of loan review and approval has been significantly improved by the cooperation in loans entrusted by high-tech enterprises, loans for supplementary and following investments, M&A loans, issuance of PPNs and medium-term notes and other business of the Group. 

The offering of credit line to and the establishment of comprehensive cooperation relationship with the ZGC Development Group have been an important move of the Bank of Beijing to provide all-round and personalized financial services for the building of the demonstration zone and the technology-based enterprises, helping the Group improve work efficiency in credit granting, entrusted loans and cooperate financial services and etc.  This is also designed to carry forward the financial innovation of the demonstration zone according to the features of the construction of the demonstration zone and the financial demand of sci-tech enterprises. 

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