Shandong Port Group, or SPG, one of the world's leading seaports, signs a strategic cooperation agreement with Bank of Beijing on July 21. [Photo/WeChat account: Shandong-Port]

Shandong Port Group, or SPG, one of the world's leading seaports, signed a strategic cooperation agreement with Bank of Beijing (BOB) on July 21, and top executives from both sides attended the signing ceremony.

According to the agreement, the two parties will establish a long-term and constructive strategic partnership, strengthen business exchanges, and carry out all-round cooperation in the fields of comprehensive financial services, comprehensive credit business, supply chain financial business, and cross-border finance, in a bid to pursue high-quality development.

BOB is currently the largest city commercial bank in China, and has entered the top 50 of the world's first-tier core capital financial institutions, with total assets amounting to 3.2 trillion yuan ($474.46 billion). The bank is currently on a fast track of promoting digital transformation, and it has also placed great importance on the development of the country's real economy.

SPG is now shouldering heavy responsibility in serving the national strategies and the overall development of the province. Efforts have also been made to set up a modern shipping and financial service system, and accelerate the construction of a world-class marine port.

Both sides will deepen cooperation in various fields such as finance, trade, and shipping services, aiming to enhance the value of the industrial chain of the port industry cluster, and help overall high-quality economic and social development.