Beijing China, Sept.17, 2021—Today, Beijing Automotive Group Co., Ltd. (BAIC) reaches a strategic cooperation agreement with Beijing Branch of Industrial & Commercial Bank of China (ICBC), by which the credit lines worth of RMB 800 Hundred million will be granted to BAIC to carry out technological innovation, industrial upgrading and overall transformation.

This signing ceremony is participated in by Mr. Jiang Deyi, BAIC party secretary and Chairman, Mr. Zhang Xiyong, BAIC deputy party secretary and GM, and Mr. Zhang Jianyong, BAIC party member and vice GM as well as Mr. Huang Li, party secretary and president of ICBC Beijing Branch, Mr. Bao Xiaochen, party member and assistant to president, etc.

BAIC has maintained a long-term sound cooperation with ICBC, involving settlement, deposits, loans, bond underwriting, investment and international business.

Both sides have announced the plan for a new strategic partnership so as to renew a beneficial and sustainable development pattern and further contribute to Beijing economy.