OREANDA-NEWS. September 19, 2011. Bank of China and Taiwan Cooperative Bank signed the agreement on the syndicated loan project which was jointly prepared and organized by the two parties with the purpose to provide USD30 million working capital for Jiangsu Aide Solar Energy Technology Co., Ltd. This is the first syndicated loan project that is collaboratively organized by the financial institutions from China's mainland and Taiwan, reported the press-centre of Bank of China.

Since the Cross-strait Financial Cooperation Agreement was signed in 2009, the cross-strait financial institutions have been actively exploring the ways of cooperation. Now, the first syndicated loan project is a good example demonstrating the in-depth financial cooperation between China's mainland and Taiwan, thus it draws the attention from both the cross-strait financial institutions and Taiwan-based enterprises which have presence in China's mainland.

In recent years, relying on the professional platform and global network, Bank of China has been a leader in the domestic syndicated loan market with regard to the standardization and product innovation. According to the statistics from Basis Point, an authoritative magazine in the syndicate business, Bank of China consecutively ranked the first as the lead bank in the syndicate market in China's mainland and the Asia-pacific region from 2009 to 2010. In addition, Bank of China has won a serial of awards in the syndicate business, including the syndicated loan and leveraged finance prize awarded by Euro Week Asia, the best trading prize awarded by Trade Finance, as well as the best syndicated loan management prize, the best development prize and the best trading prize awarded by China Banking Association.

Being a financial institution with the most business outlets in Taiwan, Taiwan Cooperative Bank, regarding the total assets, ranks the second in Taiwan. It is one of the first four Taiwan-based banks which were approved to establish branches in China's mainland, with a branch operating in Suzhou. At the end of 2010, Bank of China took the lead to sign a comprehensive cooperation agreement with Taiwan Cooperative Bank, aiming to improve the all-round cooperation in the aspects of corporate finance, trade settlement, capital business and talents interaction.