STEC Signs with Bank of Shanghai to Open a Strategic Cooperation Mode of "Urban Services + Financial Services"

2019-02

On September 25, 2018, STEC signed a "Bank-Enterprise Strategic Cooperation Agreement" with Bank of Shanghai, and expected to form a strategic cooperation mode of "urban services + financial services" to jointly contribute to building of a remarkable international city of Shanghai.

Jin Hao, Chairman of Bank of Shanghai, Hu Youlian, President of Bank of Shanghai, Huang Tao, Vice President of Bank of Shanghai, Zhang Yan, Party Committee Secretary and Chairman of STEC, Zhou Wenbo, Deputy Party Committee Secretary and President of STEC, and other executives attended the signing event. President Zhou Wenbo and President Hu Youlian signed the "Bank-Enterprise Strategic Cooperation Agreement between Bank of Shanghai and STEC" on behalf of both parties.

The agreement signed between an established construction enterprise and an established bank will bring three major changes to the city: 1. jointly promoting construction and investment in emerging industries in business, culture and travel, sports and other fields and leading to a more prosperous and livable urban life; 2. jointly supporting STEC's direct selling platform for green building material, so that more environment-friendly and intelligent green building materials can be promoted and applied in Shanghai and even in cities across the country; 3. jointly promoting implement of the "whole lifecycle city management" mode, and supporting a digital and intelligent operation platform with internet financial services.

In 2007, Bank of Shanghai acted as the lead underwriter and issued short-term financing bonds of STEC for the first time, and then issued the financing bonds and bills of STEC as the lead underwriter again, boosting the development of STEC and other construction enterprises in Shanghai.