Yan Ping (2nd right) talks with the bank

On July 29, Yan Ping, chairman of Yuchai Group, warmly received a delegation headed by Jane Wang, executive director and corporate financing director of HSBC Global Bank, and exchanged ideas with the visiting guests on relevant issues.

Since 2005, Yuchai has made leapfrog progress in such aspects as corporate scale and business management, created Yuchai Phenomenon attracting industry attention, successfully accomplished the objective of building a new Yuchai in three years, and achieved an operating income of RMB 27.1 billion in 2009. In 2010, on the basis of speeding up the distribution of the engine industry, Yuchai accomplished the nationwide distribution of the construction machinery industry and made all industrial sectors grow in parallel.

Yuchais outstanding achievements have drawn attention from financial institutions, which have successively reached out to Yuchai. In 2007, the China Development Bank alone promised Yuchai an intent-based RMB 4 billion loan as a long-term and stable financial support for Yuchais development.

During the talk, Wang admired Yuchais remarkable achievements in recent years. She admitted that Yuchai was the top priority of HSBCs Asia-Pacific financial business and HSBC was looking forward to extensive and longstanding cooperation with Yuchai.

Yan said that Yuchai would speed up capital operation and establish a quality financing platform to boost corporate development, noted that the two sides should establish good channels to intensify communication, and expected HSBC to understand Yuchai and join hands with Yuchai for common development.

(Song Yonggeng)