Date: 2013-07-31

WanXiang and Citibank Forge Strategic Cooperation Ties

WanXiang and Citibank Forge Strategic Cooperation Ties


WanXiang Capital Co, a unit under the Zhejiang-based WanXiang Group, and Citigroup (China) Co signed a letter of intent on Dec. 12 for bilateral strategic cooperation in Hangzhou. This will undoubtedly help WanXiang with an eye to go global, to establish a new finance platform.

Under the agreement, Citibank (China) will provide all underlings of WanXiang Group with various financial support, including settlement, trade financing, cash management, financial adviser, investment banking, financial derivatives, training and administration consultation. Meanwhile, WanXiang will consolidate its resources, cooperate fully with Citibank in its financial and overseas businesses and expand their cooperation globally.

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