China Knowledge reported that Bank of China has inked CNY 30 billion worth of strategic cooperation agreement with Hebei Iron and Steel Group a leading steelmaker by output in China.

This is the bank's first cooperation on financial supply with customer from the steel industry.

According to an announcement released by the lender, BOC undertakes major businesses for Hebei Iron and Steel Group. Both parties have developed a good partnership in various sectors including international settlement, trade financing and loan projects.

In June 2008, BOC inked CNY 48 billion worth of strategic framework with the steel maker.

(Sourced from China Knowledge)