China Construction Bank (CCB) clinched a deal with Southwest Securities Co. Thursday for cooperation on stock hypothecated loans, securities capital settlement on agency, financial consultancy, project funding, margin trusteeship and online securities trading, etc.
As one of the largest state owned commercial banks, CCB has formed partnership with a dozen of national securities companies like Guotai J & A, Huaxia and Everbright as well as a large number of province-level brokerages, which made it a major settlement bank for China's two stock markets.
Southwest Securities has chalked up 96.174 billion yuan in transaction volume since its incorporation at the end of last year to date. It has a total asset worth 7.582 billion yuan.
It is learnt they will take the opportunity of their cooperation on online securities trading to attain online account transfer and real time account-opening information exchange so as to provide more convenient and swift services to online investors.
(People's Daily 01/20/2001)
