ICBC to cooperate with E-town Development Area
On January 21, Wang Zhenjun, head of ICBC Beijing branch, paid a visit to E-town and discussed cooperation with local officials.
E-town official Liang Sheng said that the Development Area is leading the integration of Beijing, Tianjin and Hebei, and built up a national development area alliance and a technology innovation public service platform, promoting the economic development of neighboring areas.
E-town is also building the “Made in China 2025 Demonstration Area” and “Technology and Culture Integrated Development Demonstration Area”, to become the center of technology in Beijing.
Wang Zhenjun said that ICBC is offering financial support for E-town. ICBC has more branches than other banks in E-town, including 10 branches and 8 self-service banks. ICBC will focus on industry development in E-town, and provide better funding resources to help the strategic restructuring.
ICBC Beijing branch will take part in the coordination development fund of Beijing, Tianjin and Hebei to support major projects in the integration process.
ICBC Beijing branch is currently the first financial institute to provide international merging and acquisition funding services for E-town International Investment & Development. There are several merging and acquisition projects in the future, including Mattson Technology, Silex, and Maple, with a total amount of $1 billion, with potential for merging funding.
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