On September 3, Great Wall Holdings Group and China CITIC Bank held a signing ceremony for a strategic cooperation agreement at the head office of China CITIC Bank. China CITIC Bank will provide Great Wall Holdings Group with an intentional credit arrangement of up to 20 billion yuan to fully support the business layout and globalization of Great Wall Holdings’ “new four modernizations” such as new energy power batteries, hydrogen energy, and shared travel.
Signing ceremony site
Wei Jianjun, chairman of Great Wall Holdings Group, and Li Qingping, chairman of China CITIC Bank, attended the ceremony and delivered speeches. Yang Yu, Chang Ge, President of Shijiazhuang Branch of China CITIC Bank and other leaders attended the signing ceremony.
Wei Jianjun, Chairman of Great Wall Holdings Group
Chairman Wei Jianjun said that the signing of this strategic agreement is a new starting point for strong cooperation and win-win cooperation between the two parties, and will strengthen all aspects of bank-enterprise cooperation in the group’s emerging business fields. Chairman Li Qingping said that China CITIC Bank will provide diversified financial support to Great Wall Holdings in the fields of credit financing, supply chain finance, settlement business, investment banking business and retail business.
According to the cooperation agreement, China CITIC Bank will provide the Great Wall Holdings Group with an intentional credit arrangement of up to 20 billion yuan. In the future, China CITIC Bank will increase its support for the new energy companies under the Great Wall Holdings Group on the basis of serving the automobile and parts business sector of the Great Wall Holdings Group. Financial support for sectors such as power batteries, hydrogen energy, and shared travel provides more comprehensive, high-quality, and efficient financial services for the diversified, cross-field, and global development of Great Wall Holdings Group.
At the same time, the two parties will deepen strategic cooperation in the fields of settlement and fund management, supply chain finance, investment banking and international trade services. China CITIC Bank will provide discounts and green channels for approval in terms of loan term, interest rate execution, and foreign exchange settlement and purchase rates, and provide a variety of customized financial services and various wealth management products; International trade services, e-commerce online banking, Internet finance and other aspects have also reached cooperation intentions. On the basis of financial business, they plan to actively explore innovative business models and expand cooperation space to achieve complementary advantages and mutual benefit.
It is worth mentioning that this is the first time that Great Wall Holdings has established a strategic cooperative relationship with a bank, and it has opened up a comprehensive and in-depth business cooperation model of “Headquarters to Headquarters”. The signing of this strategic agreement reflects the full recognition of each other’s industry advantages and the strong will for win-win cooperation between the two parties, and opens a new chapter of Great Wall Holdings Group’s strategic cooperation in the banking field.
2019 is a crucial year for Great Wall Motors to make global efforts. At present, Great Wall Motors has established a global layout of people, research, production, sales and supply. In terms of research and development, Great Wall Motors has formed a global research and development pattern of “seven countries and ten places”. At the same time, Great Wall Motor has planned nine production bases in Baoding, Xushui, Tianjin, Yongchuan in Chongqing, Zhangjiagang in Jiangsu, Rizhao in Shandong, Pinghu in Zhejiang, Taizhou in Jiangsu and Tula in Russia, as well as five KD factories, forming a “9+5” global chemical production system.
In the current increasingly stringent automobile market environment, providing Great Wall Holdings with a credit support of 20 billion yuan also fully demonstrates China CITIC Bank’s firm confidence in the business development of Great Wall Motors and the development potential of the automobile market. This cooperation will provide important financial support for Great Wall Motors’ “New Four Modernizations” layout and further development of its globalization strategy. In the future, relying on multiple advantageous resources such as technology, products, brands, and finance, Great Wall Motors will have more confidence to charge into the higher camp of global automobiles and continuously enhance its international influence.