Tianjin Port Free Trade Zone signed a strategic agreement at the end of last month with South Korea’s largest corporate bank Korean Development Bank (KDB) to cooperate on financial innovations, said officials with the Administrative Committee of the Tianjin Port Free Trade Zone.
According to the agreement, both sides will work together on soliciting investment, corporate financing and equity fund investment, among other things.
Korean Development Bank, founded in 1954, is a wholly state-owned A-rated policy bank with assets worth 126 billion dollar and a leader in the Asia-Pacific project finance market. It provides a full range of financial services including corporate financing and restructuring, consultation and international banking.
Currently the bank has set up branches in Beijing and Shanghai and a representative office in northeastern China’s Shenyang, capital of Liaoning province.
