Guizhou provincial government and China Everbright Group signed a strategic cooperation agreement on the morning of Oct 26. On the same day, the Guiyang branch of China Everbright Bank (CEB) went into operation, Guizhou Daily reported.

Provincial Governor Zhao Kezhi, CEB President Tang Shuangning and Deputy Secretary of the CPC Chen Min’er attended the opening ceremony.

Huang Kangsheng, vice-governor of Guizhou province, signed the Agreement of Strategic Cooperation with Xie Zhichun, deputy general manager of CEB.

According to the agreement, CEB will offer financial services including credits, loans, listing, financing, bond issuing, direct investment and insurance for developing western regions as well as some key social economic development projects. The target investment for the cooperation amounts to 50 billion yuan ($8 billion), which guarantees financing of key provincial engineering projects during the 12th Five-Year Plan period.

At the same time, CEB will enhance its cooperation with Guizhou province by providing financial consulting services to medium-sized, small-sized and high-tech enterprises. Specifically, companies equipped with advanced technologies and experience in energy conservation, environmental protection and new energy development that will provide comprehensive support to Guizhou in a batch of emerging environmental projects, including bio-safety disposal of industrial, domestic and construction waste and comprehensive water control. It will also contribute to the development new energies such as wind, solar and biomass.

At the opening ceremony of the CEB Guiyang branch, Zhao Kezhi and Tang Shuangning jointly activated the “OPEN” button.

The establishment of the CEB Guiyang branch in Guizhou is CEB’s 35th first-level branch. At the ceremony, Li Zaiyong, mayor of Guiyang city, awarded 2 million yuan to the CEB Guiyang branch as an opening gift.