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BOC, CDB in all-round cooperation

Published: 22 Mar 2009 20:10:20 PST

Mar. 23, 2009 (China Knowledge) - Bank of China (BOC)<601988><3988>, one of the country's Big Four banks, on Thursday reached an agreement with China Development Bank (CDB) for cooperation in all aspects, sources reported.

The agreement says that both parties will further expand their business cooperation for mutual benefit and development.

This move triggered the speculation that BOC is likely to become a strategic investor of CDB, which has recently transformed into a commercial bank, though BOC stressed that the agreement does not involve any specific cooperation project.

Earlier media reports said that CDB is likely to introduce the National Social Security Fund (NSSF) as a strategic investor.

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