Taicang signed a strategic cooperation agreement with the Suzhou branch of China CITIC Bank (CITIC) on July 7 to support the city's financial development and broaden financing channels for local enterprises.

Wang Jianguo, acting mayor of Taicang, and Wen Jinxiang, president of CITIC's Suzhou branch attended the signing ceremony.

Wang introduced the economic and social development that has recently taken place in Taicang. He said that CITIC, as the city's first joint-stock commercial bank, has made significant a contribution to local economic development, infrastructure construction.

Wang said that the strategic cooperation agreement will elevate relations between the two sides to a new level, add vitality to regional economic development and make it easier for local firms to obtain finance. He said that the Taicang government will implement the agreement with the utmost sincerity and in a down-to-earth manner.

Wen thanked the city government for its long-standing support and trust in CITIC and said that the bank is fully confident about its further cooperation with the city, given Taicang's "eye-catching" development in recent years.

Wen said that CITIC will continue to facilitate the city's major infrastructure projects and provide better financial support to small and medium-sized enterprises.