Sichuan: Bank-government cooperation goes well
Sichuan Provincial Government and State Development Bank signed financial cooperative agreement on July 26. Zhou Rongkang, Sec. of Sichuan Provincial C'tee of CPC, made important statement.
The cooperative agreement mainly includes: 1) State Development Bank made promise of intent to offer 77.7 bn Yuan loans fro Sichuan in the Tenth Five-Year Plan; 2) State Development Bank will aid local government and giant enterprises to design financial structure and financing blueprint; 3) State Development Bank will take the lead to organize bank loans; 4) Two parties should strengthen credit construction, among them Sichuan Government should help Bank to strengthen loan principal and interest return and support to settle non-performing assets; 5) two parties will establish senior officials exchange to improve financing efficiency.
It is the third financial cooperative agreement signed by two parties.