• Joining hands with HSBC, Fosun signs strategic partnership agreements with multiple domestic and foreign financial institutions
  • Release Time: Aug 17, 2018
  • 16 August 2018, Shanghai Fosun High Technology (Group) Co., Ltd. and China Minsheng Banking Corp., Ltd. (“China Minsheng Bank”), as the outstanding representatives of China’s private economy, signed the Comprehensive Strategic Partnership Agreement (the “Agreement”) at the Shanghai branch of China Minsheng Bank.


    Under the witness of Mr. Guo Guangchang, Chairman of Fosun International, and Mr. Zheng Wanchun, President of China Minsheng Bank, the Agreement was signed by Mr. Zhang Houlin, Senior Vice President of Fosun, and Mr. Ouyang Yong, President Assistant of China Minsheng Bank and President of the Shanghai branch of China Minsheng Bank on behalf of the respective parties. Management teams from Fosun’s headquarters and sectors of Health, Happiness and Wealth as well as senior management from Head Office and the Shanghai branch of China Minsheng Bank attended the signing ceremony.


    Pursuant to the Agreement, both parties shall leverage respective advantages to further strengthen the strategic partnership so as to attain a long-term, stable and win-win relationship, with a view to further optimizing the allocation of resources in investment and financing businesses. Through this partnership, Fosun and China Minsheng Bank can further collaborate in the areas of investment banking, commercial banking, transaction banking, capital management and personal financial services, etc., thereby supporting Fosun’s development strategy of “Industrial Operations + Technology” as well as achieving resources sharing and value empowerment among Fosun’s customer-to-maker (C2M) ecosystem.


    As of today, China Minsheng Bank has become the sixth financial institution to establish comprehensive strategic partnership with Fosun in 2018.


    Since 2018, Fosun has been dedicated to creating a global happiness ecosystem fulfilling the needs of one billion families in health, happiness and wealth. As Fosun has continued to pursue its evolving strategy and grow its core industrial operations, it has successfully gained increasing recognition from the capital market, and multiple local and foreign financial institutions successively entered strategic partnerships with Fosun to achieve win-win cooperation.


    Fosun and HSBC signed strategic cooperation agreement

           On 26 March 2018, Fosun International and The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) signed a strategic cooperation agreement. According to the agreement, HSBC will provide Fosun with a range of worldwide financial services, including corporate financing, cash management and settlement, global capital market operations, and various market risk hedging services. Through this agreement, Fosun International and HSBC are committed to fostering a closer collaboration based on strategic fit, complementary advantages and mutual support.


    Fosun and SPD Bank signed strategic cooperation agreement

    On 30 July 2018, Fosun International signed strategic partnership agreement with Shanghai Pudong Development Bank Co., Ltd. (“SPD Bank”) at the Head Office of SPD Bank. Both parties shall continue to strengthen a long-term strategic cooperation, and to further expand the collaboration scope on the basis of the existing partnership. To strive for constructive business collaboration in the financial sector, both parties shall fully utilize respective industrial advantages and consolidate bilateral resources, so as to achieve win-win cooperation. Besides, SPD Bank shall further support Fosun’s development strategy of “Industrial Operations + Technology”, and initiate diversified collaborations with Fosun’s C2M ecosystem.


    In the first half of 2018, Fosun also entered strategic partnerships with New China Life, Bank of Dalian and Shanghai branch of Postal Savings Bank of China to leverage respective competitive advantages, and initiate comprehensive and multi-tier cooperation in multiple businesses, including traditional finance, innovative financial market and investment bank, etc.