It is reported that Bank of China signed a CNY 15 billion agreement with China Railway Materials.

The parties will jointly engage in settlements, granting credits, cash management, overseas businesses, investment banking, insurance and personal finance. Bank of China will be the CRM core cooperative bank.

CRM is China largest steel trading and railway goods exporter. It recorded revenues of CNY 153.2 billion in 2010.

(Sourced from yicai.com)