Chinese, Italian Banks Sign Cooperation Agreement

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Last updated at: (Beijing Time) Friday, December 13, 2002

Chinese, Italian Banks Sign Cooperation Agreement

The Bank of China and Italy's National Bank of Labor (BNL) signed a cooperation agreement in Rome on Thursday.

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The Bank of China and Italy's National Bank of Labor (BNL) signed a cooperation agreement in Rome on Thursday.

The agreement was signed by Liu Mingkang, president of the Bankof China, and Davide Croff, chief executive officer of the BNL.

According to this agreement, the two banks will facilitate the penetration of their respective markets by their corporate customers. Italian and Chinese businessmen may receive every possible assistance both in stand-alone initiatives and in the case of joint ventures.

Specifically, the agreement concerns the extension of credit facilities and the supply of services to corporate customers, alsofor advisory purposes in the economic, legal and financial fields.In addition, it involves the exchange of information, products andservices between the two banks in connection with the planned growth of their activities in China and Italy.

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