Swedbank to collaborate with Chinese commercial bank

Swedbank to collaborate with Chinese commercial bank Swedbank has entered into a collaboration agreement with Bank of Communications, a Chinese commercial bank. Coming into effect today, the agreement includes collaboration on export credits and financing for Swedish companies having operations in China. "Access to loans in Chinese currency for such purposes as provision of working capital is highly important to Swedish companies with production in China. The Chinese market is very interesting in other respects, too, and this agreement we've entered into will now make that market more accessible to our customers," says Swedbank CEO and President Birgitta Johansson-Hedberg. The Bank of Communications, headquartered in Shanghai, was founded in 1908 and today is the largest Chinese bank not 100% state-owned. Swedbank was the first Swedish bank to open a representative office in Shanghai (2000). For further information Lars Ellström, Area Manager for China, Swedbank Phones: +46 8 585 934 33 or (mobile) +46 708 345 505 email: lars.ellstrom@foreningssparbanken.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/06/24/20020624BIT00740/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/24/20020624BIT00740/wkr0002.pdf