China Banking Association (CBA) on Tuesday signed a Strategic Cooperation Agreement with Asia Financial Holdings Pte. Ltd. (AFH) in Beijing on developing Chinese banking expertise.

Under the agreement, AFH will contribute 1 million U.S. dollars in the coming year to support CBA's initiatives in developing and organizing Certification Programs for Chinese banking professionals.

"AFH aims to be a responsible and long-term investor in China's banking sector. We hope that through this collaboration with CBA, we are able to play a role in supporting China's efforts towards further strengthening the professionalism and expertise in China's banking industry," said Dr. Richard Hu, Chairman of AFH.

The strategic cooperation between CBA and AFH will be broad-based and will cover various areas, including the development of Certification Programs for banking professionals, the organization of banking forums and overseas study programs, as well as the training of trainers and the establishment of a banking institute in China in the future.

AFH may also recommend banking experts to CBA in various areas, including risk management and wealth management, for consideration by CBA's Expert Committees for its Certification Programs. These committees will discuss and recommend industry standards, course designs, training for trainers, examination arrangements and other relevant matters.

AFH is a wholly-owned subsidiary of Temasek Holdings (Private) Limited ("Temasek"). The company started to invest in China's banking sector last year, and now holds shares in three Chinese banks, namely China Minsheng Bank, China Construction Bank and Bank of China.

Source: Xinhua