The representatives of Hengshui Bank and Tunghsu Group sign cooperation agreements in Hengshui on March 27. [Photo/hebei.com.cn]
Hengshui Bank signed a strategic cooperation agreement with Tunghsu Group to improve the financial services of the bank on March 27.
Tunghsu Group was established in 1997 and is located in Beijing. With roots in the optoelectronic display industry, it has now become an industrial investment business focusing on the optoelectronic display and renewable energy industries, while also dealing in financing, urbanization and real estate.
According to the agreement reached by the two sides, Tunghsu Group will be a shareholder in Hengshui Bank and inject capital for the bank to fund transformation and upgrading work; it will also recommend and help select senior workers from the financial sector for Hengshui Bank.
The cooperation between Tunghsu Group and Hengshui Bank is in line with Hengshui city’s development strategy, whereby the city will take the lead in Hebei province to implement financing reforms, according to Wang Jingwu, deputy Party secretary of Hengshui.
The two sides are expected to benefit each other and help the development of the local financing businesses, Wang claimed.