Standard Chartered and Fosun International Forge New Partnership

HONG KONG, Nov. 6, 2024 /PRNewswire/ — On November 6, 2024, at the Seventh China International Import Expo (“CIIE”), Standard Chartered Bank (China) Limited Co. (“Standard Chartered China”) and Fosun International Limited (“Fosun International”) signed a memorandum of understanding (MOU) aimed at enhancing their strategic cooperation. This agreement seeks to deepen collaboration and expand their presence in the global market, with a special focus on the “Belt and Road” initiative.

Key Executives Oversee Agreement Signing

The signing took place in front of notable figures, including Mary Huen, CEO of Standard Chartered in Hong Kong and Greater China & North Asia, along with Wang Qunbin, Co-Chairman of Fosun International. Other key leaders present included Wesley Yang, Deputy CEO and Head of Financial Markets at Standard Chartered Bank China, and Zhang Houlin, Senior Vice President and Co-Chief Financial Officer of Fosun International.

Comprehensive Support for Global Expansion

The agreement indicates that Standard Chartered China will utilize its global resources to assist Fosun International’s development needs both domestically and internationally. This includes designing tailored financial service solutions. Standard Chartered plans to enhance its support for Fosun’s global operations by offering cash management, trade financing, and sustainable financial services that align with its international network.

Comments from Leadership on Future Collaboration

“We are very pleased to continue to deepen our cooperation with Fosun International,” stated Wesley Yang. He emphasized Fosun’s growth in global operations, noting its emergence as a leading example among Chinese firms. Yang expressed optimism about furthering their collaborative efforts to help Fosun excel in worldwide markets.

Zhang Houlin also remarked on the longstanding relationship, highlighting that the partnership between Standard Chartered and Fosun began in 2007. This latest MOU marks their third strategic cooperation agreement, underscoring the bank’s commitment to supporting Fosun’s global business expansion and innovation strategies.

Significance at the China International Import Expo

This year marks Standard Chartered’s seventh consecutive participation in the CIIE, with a theme of “Connectivity knows no border. Set sail for a new journey.” The bank aims to establish itself as a “super connector” in cross-border finance, showcasing innovative solutions tailored to various trade corridors and markets.

Meanwhile, Fosun International, along with Fosun Pharma, is also participating for the seventh consecutive year under the theme “Arriving on Schedule, Sharing Global Opportunities.” Fosun has expanded its global presence to over 35 countries, focusing on globalization and innovation to provide high-quality services to one billion customers worldwide, supported by its partnership with Standard Chartered.

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SOURCE Fosun