The two parties will jointly promote sustainable development and maximise international financial synergies.
22 March 2025, Beijing – Standard Chartered Bank and CITIC Group Corporation (“CITIC Group”) signed a Memorandum of Understanding (MoU) in Beijing to further deepen their comprehensive strategic cooperation in China and overseas markets. Bill Winters, Group Chief Executive of Standard Chartered, and Xi Guohua, Chairman of CITIC Group, attended the signing ceremony.
According to the MoU, both parties will maximise their respective strengths in providing comprehensive finance and global network advantage, by fully supporting the implementation of each other’s internationalisation strategy, and strengthening cooperation in interbank business, trade finance, syndicated loans, custody business, financial market trading, capital markets business, and personal financial services. The two parties will strengthen innovative cooperation in the field of sustainable development and sustainable finance, working together to build a sustainable ecosystem, and jointly help more clients achieve green and low-carbon development. The cooperation will also actively serve China’s enterprises to “go global”, expand global market participation, and help bring more multinational companies with advanced technology and medium-to-long term capital to invest into China.
Bill Winters, Group Chief Executive of Standard Chartered comments, “Standard Chartered Bank and CITIC Group have been working together for more than 30 years. As an international bank operating in China, our role as a ‘super connector’ allows us to provide professional support for CITIC Group’s strategic blueprint and sustainable development, as CITIC expands its business domestically and internationally.”
Xi Guohua, Chairman of CITIC Group comments, “CITIC Group comprehensively integrates its industrial and financial resources to support its cross-border service brands. Together with Standard Chartered, we will utilise the complementary advantages of two markets and two types of resources to further deepen innovation and cooperation in the financial sector. We also welcome more foreign enterprises to invest in China and jointly embark on mutual beneficial global collaboration.”
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For further information please contact:
Preston Zhu
Standard Chartered China
Standard Chartered
We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets. More than 75% of our global footprint overlaps with the Belt & Road markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
Standard Chartered is one of the oldest international banks in China, with our first branch in Shanghai set up in 1858 and continuous operations thereafter. We were among the first batch of international banks locally incorporated in China in April 2007. We have outlets across nearly 30 coastal and in-land cities in China, a testimony of our long-term commitment to China.
We actively fulfil our corporate social responsibility. Futuremakers is a collaboration with NGOs and governments to support young people to learn, earn and grow. Since its launch in 2019, Futuremakers programs have assisted over 700 social enterprises in enhancing their operational capabilities, and provided education, employment, and entrepreneurship support to more than 100,000 young people in China.
We received a number of awards and accolades in 2024, including Outstanding Contribution Award by Green Investment Principle; Belt and Road International Cooperation Award by International Financial Forum; Northbound Top Bond Market Maker, Top Custodian and Top FX Settlement Bank by Bond Connect; Excellent Foreign Bank of the Year by The Economic Observer; Outstanding Cross-border Financial Institution by 21st Century Business Herald; Wealth Management Bank of the Year by Yicai; Best RMB Bank in 16 overseas markets by The Asset; Best Cross Border Remittance Service for Small and Medium-sized Enterprises in China by The Asia Banker; Digital Client Experience Award by The Digital Banker; CSR Enterprise of the Year by Jiemian; Responsible Practice Program of the Year by The Paper News; Top Employer China by Top Employers Institute; Top Graduate Employer of the Year by 51Job.
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