On 26 December 2016, China Re Group entered into the Strategic Cooperation Agreement with CDB. Prior to official signing of the Agreement, Mr. Zhang Hong, the President of China Re Group, and his team paid a visit to Ms. Ding Xiangqun, the Executive Vice President of CDB. Both parties exchanged ideas in relation to their respective business situation and potential cooperation opportunities, and reached agreement on matters in relation to the launch of strategic cooperation.
China Development Bank is a policy financial institution under the direct leadership of the State Council. It is the world’s largest development financial institution, and the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance. It provides medium- to long-term financing facilities to serve China’s major medium- to long-term economic and social development strategies.
Pursuant to the Agreement, a harmonious and close comprehensive cooperative partnership will be established between both parties based on the principles of fair cooperation, mutual benefits and joint development. Leveraging both parties’ leading position in their respective industry and field, their respective resources and pipeline advantages can be brought into full play to mutually strive to serve the national “go abroad” strategy. Both parties will deepen their cooperation in the fields of short-term export credit insurance, construction insurance, property insurance, personal insurance, reinsurance and insurance intermediaries in relation to overseas investments and overseas projects, as well as the financing and asset management business and the development of new products in order to promote business development mutually with efforts to enhance their competitiveness and influence in the financial system.