|Secures Credit Facility of RMB30 Billion and Industry Fund of RMB20 Billion
HONG KONG, May 6, 2016 - (ACN Newswire) - HNA Group and China Construction Bank have signed a strategic cooperation agreement under which China Construction Bank is to provide a credit facility amounting to RMB30 billion to HNA Group. The two parties are to also commence cooperation in general financial areas such as bank-enterprise cooperation, investment banking, cash management and finance leases. The parties have also signed the HNA Industry Investment Fund Strategic Cooperation Agreement pursuant to which, China Construction Bank (Hainan Branch) and HNA Group are to jointly set up an industry fund to raise up to RMB20 billion, thus benefitting both banks and enterprises.
The agreements have been signed at a ceremony at The HNA Building at Haikou on 3 May where Zhang Gengsheng, Vice President of China Construction Bank, and Adam Tan, Vice Chairman and CEO of HNA Group, both presided and presented speeches. Kang Yi, General Manager of Corporate Banking at China Construction Bank Head Office and Xu Zhoujin, Chief Financial Officer of HNA Group, signed the strategic cooperative agreement on behalf of the two parties respectively.
Zhang Gengsheng, Vice President of China Construction Bank, said, "The Bank has observed the expansion of HNA Group and has appreciated the strong support from the Group over many years of cooperation. The Bank has consistently adhered to a 'sound, credible and innovative operating philosophy' and places a priority on the cooperation with the HNA Group. Through signing these agreements it hopes to open a new chapter for even closer partnership in the future".
Adam Tan, Vice Chairman and CEO of HNA Group, said "China Construction Bank has been among the first batch of banks cooperating with the HNA Group. Over the years, both parties have built a close relationship through collaboration in the aviation and airport sector. Through the latest agreements, we can initiate all-round cooperation in other areas such as banking, securities, trusts, finance leases, fund management and insurance and reap more mutually fruitful results".
Mutual trust and benefits to promote a win-win future
China Construction Bank is a domestic leading, internationally well known large-scale joint-equity commercial bank. It possesses significant advantages in terms of corporate governance, global layout, operating license, client resources, system infrastructure and business experience. At the end of 2015, the market capitalization of China Construction Bank is approximately US$173.3 billion, which ranked 5th among the listed banks worldwide. Over the years, China Construction Bank has maintained close cooperation with numerous quality enterprises that support and lead the economic development of China. As at the beginning of April this year, HNA Group's existing business with China Construction bank is valued over RMB20 billion.
HNA Group has rapidly grown into a large multinational conglomerate against the backdrop of China's reform and opening to the outside world. At the end of 2015, HNA Group has been awarded a Grade 3A in the international ratings of Dagong Credit, the highest domestic credit rating. The development of HNA Group has gained the confidence and support from numerous business partners. Taking 2016 as an example, the cooperation with China Construction Bank this time is another large-scale collaboration of HNA Group after the RMB 30 billion strategic partnership with Bank of Communications. Currently, various banks have provided HNA Group with credit facility of over RMB 530 billion.
Actively supporting national strategy
HNA Group has accelerated its global layout in recent years. With support from partners, HNA Group has been actively serving China's "Going Out" policy to assist the country's expansion of its overseas interests. Based at Hong Kong as international platform and oriented by the aviation industry, HNA Group has integrated industry resources globally, and has expanded and improved the industrial chain since 2010. As at the end of 2015, HNA Group has more than 30 overseas operational entities in 16 countries and territories, involved in sectors including aviation, logistics, finance, property, hotel, tourism, etc. The total assets of overseas operational entities are over RMB140 billion and have over 80,000 employees.
In just over 20 years, HNA has expanded from a local aviation transportation operator into a conglomerate encompassing core divisions of aviation, holdings, capital, tourism, logistics and ecological technology. Its business outreach has expanded from Hainan, the Pearl of the South Sea to around the globe. In 2015, the Group was selected among Fortune Global 500 enterprises for the first time ever, ranking 464th with a revenue of nearly RMB190 billion and nearly RMB600 billion of assets, with nearly 180,000 employees.
HNA Group (International) Company Limited
Ms. Abby LEE Tel: (852) 3196 0956 Email: email@example.com
Strategic Financial Relations (China) Limited
Ms. Karen HUNG Tel: (852) 2864 4845 Email: firstname.lastname@example.org
Ms. Phoenix FUNG Tel: (852) 2864 4850 Email: email@example.com
Topic: Press release summary
Source: HNA Group International Co. Ltd.
Sectors: Daily Finance, Banking & Insurance
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