Fosun International and Standard Chartered Bank Sign Strategic Cooperation Agreement

Published : Wednesday, January 16, 2019, 8:01 pm
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HONG KONG, Jan. 16, 2019 /PRNewswire/ -- Fosun International Limited ("Fosun International") (00656:HK) and Standard Chartered Bank together announced today that they have signed a strategic cooperation agreement ("the Agreement") with the two parties committing to work together to support the future development strategy of Fosun International and its subsidiaries. Guo Guangchang, Chairman of Fosun International, and Simon Cooper, CEO, Corporate, Commercial and Institutional Banking at Standard Chartered, attended the signing ceremony, which took place at the Bund Finance Center, Shanghai.

Guo Guangchang, Chairman of Fosun International, said, "We are very pleased to welcome Standard Chartered Bank as our important strategic and long-term partner. Since 2007, Standard Chartered Bank has started cooperating with Fosun and played an important role in the financing of several strategic asset acquisitions in the history of Fosun's development. Our current cooperation spans our three core business segments, namely 'Health, Happiness and Wealth', with Standard Chartered Bank sharing a common strategic vision with Fosun. Through this partnership, Fosun can leverage Standard Chartered Bank's vast network and resources in the Belt and Road countries and regions to continuously support and accelerate the global growth of Fosun and its subsidiaries, particularly to strengthen our core industrial operation capabilities, pursue our technology-driven development strategy and further expand investment in innovation."

Simon Cooper, CEO, Corporate, Commercial and Institutional Banking at Standard Chartered noted that "China is a strategically important priority for Standard Chartered. We firmly believe in the long-term development of China's economy and Chinese enterprises. With our unique network advantages and financial expertise, we can support the best Chinese enterprises to realize their internationalization strategy. Fosun Group has always been a key client of Standard Chartered Bank. We have comprehensive collaboration across different areas, from trade finance to currency clearing, from financial markets to capital markets and beyond, especially in countries along the Belt and Road. Standard Chartered, with a longstanding presence in 45 markets along the routes, was one of the first international banks to incorporate 'Belt and Road' into our Group strategic focus. The signing of this global strategic cooperation will help both Fosun and Standard Chartered seize the opportunity to make greater contributions to the development of Belt and Road-related economies."

The signing of the Agreement marks a new era of cooperation between Fosun International and Standard Chartered Bank. Under the Agreement, Fosun International and Standard Chartered Bank pledged to strengthen the close cooperation between the two parties, especially in areas such as "Belt and Road" where Standard Chartered Bank has business advantages and promote cooperation in the areas of "Health, Happiness and Wealth", with a view to creating better lives for families worldwide.

About Fosun

Fosun was founded in 1992. Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007, with total assets over RMB560 billion (c.US$85 billion) as of June 30, 2018. With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world. Fosun International was ranked no. 416 on "Forbes Global 2000" by the United States magazine, Forbes.

Fosun's mission: Creating happier lives for families worldwide.

Fosun's vision: Rooted in China, creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth.

About Standard Chartered

We are a leading international banking group, with a presence in more than 60 of the world's most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

Standard Chartered is the oldest foreign bank in China, with its first branch in Shanghai set up in 1858 and continuous operations since then. Standard Chartered Bank (China) Limited was one of the first foreign banks to locally incorporate in China in April 2007. This demonstrates the Bank's commitment to the China market, and its leading position as a foreign bank in the banking industry.  Standard Chartered has outlets across about 30 coastal and in-land cities in China.

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