Companies

China Huarong signs co-op deal with SinoPac

(Xinhua)
Updated: 2010-09-04 11:49

BEIJING - China Huarong Asset Management Corporation (Huarong), one of China's four State-owned asset management firms, said Friday it has signed a cooperation agreement with Chinese Taiwan-listed SinoPac Financial Holdings Co to jointly develop financial products and business models.

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Under the agreement, the two companies will cooperate in business information, talent exchange, and development of new products and business models, Huarong said in a statement.

Huarong president Lai Xiaomin said the cooperation will promote cross-Straits economic exchange.

The Chinese mainland and Taiwan in June signed a landmark economic pact, the Economic Cooperation Framework Agreement (ECFA), a systematic mechanism to enhance cross-Strait economic cooperation.