On September 27, Bank of China inked a RMB 80 billion strategic cooperation agreement with Chinese steel giant Baosteel Group Corporation in Shanghai. Accordingly, both parties will have strong relationships across many corporate business lines including overseas business.
Xiao Gang, director of Bank of China, and He Wenbo, general manager of Baosteel Group, were present at the signing, which was said to represent a milestone for the both parties.
Baosteel Group ranked 220th in the list of the top 500 companies of the world in 2009.