On the afternoon of November 11, the signing ceremony for the strategic cooperation between Guangxi Yuchai Machinery Group Co., Ltd. and China Resources Bank of Zhuhai Co., Ltd. (CRBZ) was held in Zhuhai. Head Liang Yuandong and First Deputy Head Yang Huabing of Doumen District; President Gu Tangsheng and Chief Accountant Wang Hong; Jiang Shihong, chairman of Yuchai Zhuhai Marine Power Co., Ltd. (YZMP); Song Qun, president of the head office of CRBZ and CFO Tian Yu were present. Zhou Jinquan, public business CEO of the head office of CRBZ, presided over the ceremony.

Gu and Song solemnly signed the strategic agreement on behalf of Yuchai and ZCRB, forging a strategic partnership. 

Gu (L) and Song (R) sign the strategic agreement

The successful launch of the worlds first RT-flex35 low-speed diesel engine marks Yuchais leap in the marine power business and promising the start of the friendly cooperation between Yuchai and CRBZ. The year 2011 marks the opening of the twelfth five-year period for Yuchai. Centering on the objective of achieving sales of RMB 100 billion, Yuchai will make uttermost efforts to make a good start, promptly integrate technical advantages, proactively develop the industry chain, build superior sectors and tighten quality control to sharpen market competitiveness. According to Wang, the conclusion of the strategic agreement marks the initiation of the longstanding and all-round strategic cooperation between Yuchai and CRBZ, under which the parties will give play to respective advantages, further deepen cooperation in diverse fields, accomplish bank-enterprise reciprocity and win-win, and jointly contribute to stable and fast economic and social development, thus setting a good example for cooperation between large-sized enterprises and large banks.

CRBZ, formerly Zhuhai Commercial Bank, acquired its current name in March 2011. With total assets of over RMB 40 billion, CRBZ is Zhuhais only joint-stock banking institution with corporate legal status. According to its development plan for the coming five years, CRBZ aims to progressively establish a differentiation competitive advantage and a business mode of sustainable development on the basis of building core capacity. Tian addressed that forging a strategic partnership with Yuchai is CRBZs great business breakthrough this year, pledging to spare no efforts to offer Yuchai all-round financial plans and quality financial services and to join hands with Yuchai to portray a rosy outlook of bank-enterprise cooperation.

Yang praised Yuchais strategic vision, saying the launch of YZMPs project product marks a key step of Fushan towards an advanced equipment manufacturing base and a new chapter in Zhuhais marine engineering field.

(Mei Changfu)