Wison Group Appoints CMBC as Financial Housekeeper

Wison Group Holding Limited, a diversified privately-owned enterprise with a primary focus on energy services and hi-tech industries, has signed a strategic cooperation agreement with China Minsheng Banking Corporation Limited (CMBC). Under the new agreement, CMBC will provide Wison Group with credit line, financing, advisory and financial management services. Wison Group will also receive essential financial support from CMBC for its engineering services, offshore and clean energy research businesses. Both CMBC and Wison Group are committed to achieving mutual growth and a strong, long-term partnership.
 

Under this strategic cooperation agreement, CMBC will provide Wison Group with a wide range of innovative financial services, including credit, investment, cash management, online banking, annuity management, assets trust, settlement and personal banking services throughout its supply chain.
 

As China’s first nationwide joint-stock commercial bank owned mostly by the non-public sector, CMBC has stayed true to its vision of becoming a lender primarily for privately-owned enterprises, a strategic goal since the bank’s transformation in 2009. This new partnership with Wison Group is fully in line with this goal, and corresponds with CMBC’s commitment to achieve mutual prosperity and growth both for its own business and that of the enterprises it serves. “We focus on privately-owned enterprises with great potential and put in place a special team which acts as a professional, all-round housekeeper for our client. We would be thrilled if they [Wison Group] developed into one of Asia’s top 500 or even a Global Fortune 500 company,” said Xu Xinhong, Director of CMBC's Chemical Enterprises Banking Division. “Wison Group is a dynamic private business with a solid foundation and great prospects. Our strategic partnership with Wison Group will have a major impact in our transformation into a financial housekeeper for privately-owned enterprises.”
 

Headquartered in Shanghai, the Wison Group has grown to encompass four major business segments: Engineering services, offshore & marine, clean energy, and emerging businesses (biopharmaceutical and telecommunication). The Group currently employs approximately 3,000 personnel worldwide and maintains offices in Beijing, Hong Kong, Nanjing and several other cities in China. Moreover, the Group has established overseas subsidiaries in Singapore, Khobar, Saudi Arabia and Houston, Texas, USA. Zhuang Yongqing, Vice President of Wison Group, said: “Over the past decade, Wison Group has continued to be a pioneer within the business sectors it operates in and has enjoyed steady growth and expansion. We hope our strategic partnership with CMBC will bring us more professional and effective financial services and support, and accelerate Wison Group’s drive towards becoming a leading global enterprise, with a focus on the industrialization of science and technology, the promotion of economic development, and the improvement of people’s lives.”
 

This new strategic cooperation between Wison Group and CMBC was created on the basis of risks and opportunities being equally shared. Both Wison Group and CMBC will strive to bring together and integrate one another's assets in terms of financial services and industrial development to create new dynamism for their businesses. In the current financial climate, such an innovative model of cooperation between a bank and an enterprise is a welcomed and positive accomplishment.