THE Qingdao Municipal Government will cooperate with the China Minsheng Banking Corp. Ltd. in financial areas, according to a signing ceremony held in the city Feb. 28.

    According to the plan, the bank will offer loans of no less than 100 billion yuan to support the city’s full-scale development between 2011 and 2015, particularly development in areas such as marine economy, cultural construction, finance, private business, agricultural economy and urban infrastructure construction. The bank will particularly help resolve small-to-medium-sized enterprises’ financial difficulties and support the development of private firms, offering related financing products to increase their cash flow.

    The bank is China’s first private commercial bank. The Qingdao branch was established in 2006, offering services to the city’s infrastructure construction, private business and small and medium enterprisers. At present, it also has branches in Yantai, Weihai and Rizhao cities.

    The bank also signed cooperation agreements with the city’s association of industry and commerce at the signing ceremony. (Stephy Wong, Fu Jun)