CICC has signed a strategic cooperation agreement with the Ningbo Municipal Government in which the two sides decide to create an Rmb10bn industrial fund. A delegation of CICC headed by Chief Executive Officer Bi Mingjian met with Qiu Dongyao, mayor of the Ningbo Municipal Government, on September 28, 2018.

Under the agreement, CICC will carry out multi-level and multi-field financial cooperation with Ningbo, promoting the development of its characteristic advantaged and strategic emerging industries, as well as the implementation of the Phoenix Action Plan of Zhejiang Province in Ningbo, which aims to advance IPO and M&A for restructuring.

Qiu Dongyao extended his gratitude to CICC for its continued support for Ningbo and expected more financial services from CICC to optimize its real economy performance. He said Ningbo would create a benign business environment for CICC.

Bi Mingjian committed to deepening the cooperation with Ningbo, facilitating the development of its emerging industries and assisting its enterprises to tap the domestic and overseas capital markets.