Yuchai Heavy Industry wins CEB Best Growth Award 2010
On June 11, the grand Summit of China Everbright Bank on Bank-Enterprise Cooperation in Construction Machinery Loan Business 2010 took place in Guiyang. At the summit, leaders of China Everbright Bank (CEB), the construction machinery association and over 30 industry elites such as Yuchai Heavy Industry summed up the hotspots and actuality of Chinas construction machinery field in 2009, probed into the cooperation between banks and enterprises and innovation cooperation in the new situation, and look into the trends of industrial and the orientation of future cooperation. As a result, Yuchai Heavy Industry was granted the Best Growth Award 2010 by CEB for outstanding achievements in bank-enterprise cooperation and leapfrog development.
The cooperation between Yuchai Heavy Industry and CEB in mortgage business started from May 2007, when the companys annual sales income was only RMB 600 million, to break the sales bottleneck and establish a more extensive financing platform, the corporate leaders had actively sought to create sales financing platforms in cooperation with commercial banks, but had great difficulty in launching the national mortgage business due to the limitation of conditions. Through frequent in-depth discussion with the corporate leaders, CEB has established strategic partnerships with Yuchai Heavy Industry, accomplished the three-level linkage of the head office, branches and lead banks, launched the national construction machinery mortgage business and made a historic breakthrough. Through unremitting efforts, the two sides have entered into a good partnership and deepened cooperation, with the line of credit increasing from RMB 250 million in the beginning to RMB 1.2 billion in 2009. In 2009, Yuchai Heavy Industry achieved a sales income of RMB 1.813 billion, thus creating a harmonious win-win situation in bank-enterprise cooperation.
At the summit, the two sides made in-depth communication on future cooperation and fully exchanged ideas on future development modes, business varieties and line of credit, laying a more solid foundation for the more comprehensive and rapid development of both sides.
(Huang Zhiqiang)
