Chairman Zhang Xiangyang Attends the Signing Ceremony of the Cooperation Agreement on Financial Support for the Construction Industry’s “Going Global” Initiative
Release Date:
2017-11-07
To implement the “Opinions of the Nantong Municipal People’s Government on Accelerating the Overseas Expansion of Construction Enterprises” and to establish and improve long-term strategic cooperative relationships between banks and enterprises, the Nantong Municipal People’s Government hosted a signing ceremony for financial support agreements aimed at facilitating the “going global” of the construction industry at the New District Convention Center on the afternoon of October 23. Wu Yonghong, Vice Mayor of Nantong, attended the ceremony and delivered an important address. Zhang Xiangyang, Chairman of our Group, signed the cooperation agreement on behalf of the company as the first party to do so at the event. The financial institutions participating in this signing include the Industrial and Commercial Bank of China, the China Construction Bank, the Bank of China, and the China Export & Credit Insurance Corporation, with the agreement covering Nantong Construction Engineering, Suzhong Construction, Nantong Second Construction, Nantong Third Construction, Nan
To implement the “Opinions of the Nantong Municipal People’s Government on Accelerating the International Expansion of Construction Enterprises” and to establish and improve long-term strategic partnerships between banks and enterprises, the Nantong Municipal People’s Government hosted a signing ceremony for financial support agreements aimed at facilitating the international expansion of the construction industry at the New District Convention Center on the afternoon of October 23. Wu Yonghong, Vice Mayor of Nantong, attended the ceremony and delivered an important address. Zhang Xiangyang, Chairman of the Group, signed the agreement on behalf of the company as the first party to do so at the event.
The financial institutions that signed agreements this time include Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and China Export & Credit Insurance Corporation. Together, they have committed a total credit line of RMB 12.4 billion over the next three years for seven construction enterprises—Nantong Construction Engineering, Suzhong Construction, Nantong Second Construction, Nantong Third Construction, Nantong Fourth Construction, Tongzhou Construction General Corporation, and Longxin Construction. The financing arrangements will encompass debt financing instruments, industrial funds, non-standard debt claims, syndicated loans, and domestic-guaranteed, foreign-loan facilities, with a particular focus on providing specialized guarantee services such as bid bonds, advance-payment guarantees, performance bonds, and financing-related guarantees. In addition, leveraging their expertise in professional consulting, the participating banks will make full use of their overseas branches and talent pools to offer training and information advisory services on a range of topics, including the laws of host countries, religious practices, and international financial markets. A “green channel” has also been established to streamline business procedures and deliver optimal service to the signatory firms, thereby providing robust support for Nantong’s construction industry as it expands internationally.
In his address, Vice Mayor Wu Yonghong pointed out that the construction industry is a traditional pillar sector in Nantong, and that the Municipal Party Committee and the Municipal Government attach great importance to its development, having included it in the city’s key industrial development plan. He expressed the hope that financial institutions would take this cooperation as a starting point, adopt a long-term perspective, seize opportunities, continue to maintain their strong cooperative relationship with Nantong’s construction industry, expand the scale of funding allocation, and increase their support; at the same time, he urged construction enterprises to view this signing ceremony as a new starting point for “going global,” strictly honor their contractual commitments, uphold a reputation for integrity, proactively strengthen communication and coordination with financial institutions, secure greater support, and achieve even better development.
Following the signing ceremony, Chairman Zhang Xiangyang granted an exclusive interview to Nantong Television and held a symposium with leaders of provincial and municipal banks. During the discussion, he presented the practical challenges faced by construction firms in their “going global” initiatives. In response, the bank leaders addressed each issue one by one, pledging to closely monitor the needs of these enterprises, vigorously develop targeted measures, and spare no effort in providing assistance and support to Nantong’s construction companies as they expand internationally.
With the implementation of the national Belt and Road Initiative, the Group has seized development opportunities, leveraged and amplified its comparative advantages, and boldly expanded its operations overseas. It has successively undertaken a large number of industrial and civil construction projects in numerous countries across Africa and ASEAN, while also investing in and developing hotel and hospitality facilities, agricultural farms, and real estate ventures, thereby striving to forge a distinctive “going global” model that reflects Nantong Construction Engineering’s unique strengths. The signing of the Cooperation Agreement on Financial Support for Nantong Construction Industry’s “Going Global” initiative further deepens the Group’s win-win partnership with banking institutions, which will help promote higher-quality, more efficient expansion into overseas markets and drive the company to achieve new record highs.
(General Manager’s Office, Guo Qiyun)
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