China News Agency, Beijing, November 29 (Reporter Wang Enbo) The reporter learned from the China Development Bank on the 29th that the bank recently signed a comprehensive strategic cooperation agreement with the Korea Industrial Bank.

According to the agreement, the two parties will, on the basis of the good cooperation in the early stage, make better use of their respective advantages, and further innovate cooperation models and enhance the level of cooperation in such areas as cross-border RMB cooperation, green finance, syndicated loans, trade financing, bond underwriting, and third-party market cooperation. , And jointly promote regional economic development.

  China Development Bank and Korea Industrial Bank are both member banks of the China-Japan-South Korea-ASEAN UnionPay (10+3 UnionPay). The two parties have previously carried out fruitful efforts in mechanism construction, business cooperation, personnel exchanges, and cross-border RMB. Cooperation, and plans to expand the scale of overseas RMB credit cooperation by 10 billion yuan in the next two years to better serve China-South Korea trade and investment exchanges.

  According to reports, the Korea Development Bank is a policy financial institution wholly-owned by the Korean government, which mainly provides long-term funds for the economic development of South Korea; China Development Bank is China’s largest medium and long-term investment and financing bank, mainly through the development of medium and long-term credit and Financial services such as investment serve the major medium and long-term development strategies of the national economy.

  The China Development Bank stated that the successful cooperation with the Korea Industrial Bank is a useful attempt by international development and policy financial institutions to carry out cross-border RMB cooperation. The high-quality development of the “Belt and Road” initiative facilitates the active exploration of the internationalization of the RMB.

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