Far East Horizon Signs Developmental Finance Cooperation Agreement with China Development Bank’s Shanghai Branch
On December 20th in Shanghai, Far East Horizon Ltd., Co. signed a developmental cooperation agreement with the Shanghai branch of the China Development Bank. At the signing, the China Development Bank's Shanghai Business Headquarters President, Party Secretary of the Shanghai Branch and Branch Director, Mao Juncai and staff, and Far East Horizon President Kong Fanxing and CFO Wang Mingzhe reached an agreement after friendly consultations. In the future, both parties will continue to bring their respective strengths into play—the corporate group advantages of Far East Horizon and the financial advantages of the China Development Bank—furthering and deepening their comprehensive strategic cooperation relationship through a new format.
At the signing ceremony, the representatives from Far East Horizon went over the two parties’ past cooperation, and expressed the valuable bond they had developed over the long term. China Development Bank has been a witness to Far East Horizon’s best and most productive years. Starting in 2011, when Far East Horizon successfully went public in Hong Kong, through 2015, when the company’s total assets exceeded 100 billion [for the first time], Far East Horizon’s achievements would not have been possible without the support of China Development Bank.
Following this review, Far East Horizon CFO Wang Mingzhe and China Development Bank Shanghai Branch Deputy Director Li Wei signed the developmental cooperation agreement. It is understood that in the future, both sides will continue their deep cooperation in the areas of traditional leasing, asset-backed paper, financial tickets and short and super-short term commercial paper. In addition, they will further expand their PPP business, loans in civil areas such as education and healthcare, as well as cooperation in foreign currency loans, and accelerate the Group’s credit business all around the country in Shanghai, Hong Kong and Tianjin.