On June 12, 2006, Industrial and Commercial Bank of China Limited (ICBC) and China Communications Construction Group Limited (CCCG) officially signed Bank-Enterprise Strategic Cooperation Agreement in Beijing. ICBC and CCCG maintain a long and friendly relationship. The joining of the two strong forces this time promoted further the healthy development of both parties' business and enlarged their cooperation scope. Signing of this agreement between ICBC and CCCG marked the era for both parties to join hand to another new strategic horizon.
According to the agreement, ICBC will be the long-term strategic partner and one of the main cooperation banks of CCCG. In line with national economy, financial policy and "Eleventh Five-Year" development plan of CCCG, ICBC is going to provide CCCG all-inclusive banking support services including deposit and financial planning, bank financing, direct financing, cash management, international business, debt risk management, investment banking, bank card, intermediary and other banking services.
It is introduced that CCCG is a heavyweight constructor in China transport construction field. The company has distinctive advantages in building ports, first class highway and bridges, and in the design and manufacturing of port machinery. In the area of international engineering subcontracting, CCCG created numerous "First", "Best" in waterworks and bridges in China, in Asia, or even in the World, which won it a good reputation.
CCCG has over 65% of world market in the construction of newly increased port machinery every year. Over the past 20 years, CCCG has concluded more than 1500 projects in international engineering and labor contracts, involving a total contract amount of USD 14 billion and USD 13.5 billion revenue. In the list of the US Engineering News-Record Review, China Harbor Engineering Company Group (CHEC), which is CCCG former, and China Road and Bridge Corporation (CRBC) ranked 31st and 48th respectively.
Being the largest commercial bank in China, ICBC gained significant progress in terms of capital, business and service means. Attention of the whole world turned to the astonishing operating result that ICBC had achieved. In recent years, ICBC received numerous awards as "Best Bank of China", "World's Best Bank Website" and "Best Corporate Internet Bank of China" from many international renowned financial magazines such as The Bankers, Global Finance, Euromoney, and was included in World Top 500 of Fortune for six consecutive years.
