Bank of China and Volkswagon Become Olympic Strategic Partners

On November 23, 2005, Bank of China, the official banking partner of Beijing 2008 Olympic Games and the joint team of Volkswagon China, Shanghai Volkswagon and FAW-Volkswagon, the official auto partner, signed the Framework Agreement on Olympics Strategic Cooperative Partner. The signing of the agreement signified the formal launch of the strategic alliance of the two sides on the platform of Olympic Games. Both BOC and Volkswagon expressed that they would have close collaboration on the aspects of strategy, business, and marketing.

Leaders of the two sides attended the signing ceremony, including Li Lihui (Vice Chairman and President of BOC), Hua Qingshan and Zhang Yanling (Vice Presidents of BOC), Fan Ande, (Global Vice President of the Wolkswagon Group, and President of China Region, Volkswagon) and Su Weiming (Executive Vice President, Volkswagon Group China), Zhang Suixin (Vice President of Greater China, Vokswagon), Ye Yongming (Deputy General Manager of Shanghai Volkswagon), Li Wu (Deputy General Manager of FAW-Volkswagon).

Moreover, Ms. Yuan Bin, Head of the Market Development Department of BOCOG, representatives of the Sixth TOP cooperative partners of International Olympic Committee and cooperative partners of BOCOG witnessed the signing ceremony and congratulated on the signing of cooperation agreement.

As the cooperative partners of Beijing 2008 Olympic Games, BOC and Volkswagon China provide high quality banking services, vehicles and related support for the Beijing 2008 Olympic Games, Beijing 2008 Paralympic Games, BOCOG, Chinese Olympic Committee, 2006 Torino Olympic Winter Games and Chinese Sports Delegation in Beijing 2008 Olympic Games. As strategic partners, they would actively cooperate with each other on many aspects, including information exchange and share, development of new products and businesses, customer service and resource sharing and joint Olympic marketing.

The two sides also signed three specific business cooperation agreements, Cooperation Agreement between FAW-Volkswagon and BOC on Customer Service, Cooperation Agreement between FAW-Volkswagon and BOC on Collection Service, and the Cooperation Agreement on Sweeping Service in Vehicle Purchase signed together with PICC, the official insurance partner of the Beijing 2008 Olympic Games.

Li Lihui, Vice Chairman and President of BOC, expressed that the strategic cooperation between BOC and Volkswagon as partners of Olympic Games indicated that they would further strengthen business cooperation when supporting and serving the Olympic Games. It turned a new page of comprehensive and creative strategic cooperation between banks and enterprises. With the Olympic partners joining hands together, they make success and benefit when they serve and support the Olympics.They would provide One-stop Service for customers with higher efficiency.

Fan Ande, Global Vice President of the Volkswagon Group, and the President of China Region, Volkswagon, emphasized the effect of Olympic Spirit on cooperation between enterprises. He pointed out, Like athletes in Olympic Games, enterprises must have firm faith, outstanding performance, continuous enthusiasm and cooperative attitude in order to make excellent achievements in the fierce competition. The Olympic Spirit will encourage us to continuously move forward, and share success with partners through cooperation. Our cooperation with BOC is based on this concept

Ye Yongming, Deputy General Manager of Volkswagon Shanghai and Li Wu, Deputy General Manager of FAW-Volkswagon highly praised the cooperation between the two sides, and explained details about three special business cooperation agreements besides the framework agreement.

Ye Yongming, Deputy General Manager of Volkswagon Shanghai and Li Wu, Deputy General Manager of FAW-Volkswagon highly praised the cooperation between the two sides, and explained details about three special business cooperation agreements besides the framework agreement.

It is said that BOC and Volkswagon has built a joint working group for business collabration projects. The particular business collabration projects are in preparation. In the near future, customers will feel the charm from the cooperation and joint marketing of the Olympic Games partners.