Hongkou District and the Bank of Communications (BoCom) held a high-level meeting to deepen financial collaboration, aiming to set a new benchmark for government-bank cooperation.
BoCom Vice Party Secretary and President Zhang Baojiang and Hongkou Party Secretary Li Qian attended and delivered speeches. Hongkou Director Lu Ming and BoCom Business Director and Shanghai Branch Party Secretary and President Tu Hong also provided updates on the district’s economic growth and the bank’s business developments.
As one of China's oldest financial institutions, BoCom has its headquarters in Shanghai and ranks ninth globally by Tier 1 capital.
The bank has built a strong reputation for its expertise in inclusive finance, trade finance, technology finance, and wealth management, alongside its advanced capabilities in customer operations, technology-driven innovation, risk management, cross-sector collaboration, and resource allocation.
In 2024, Hongkou pioneered the "Hongkou Instant Loan" initiative—an innovative corporate financing service that integrates pre-approved credit assessments with rapid disbursement to provide high-quality financial support for businesses in office buildings and industrial parks. BoCom was among 16 participating banks, offering online instant loans that significantly enhanced financial accessibility for enterprises.
Zhang Baojiang expressed appreciation for the Hongkou government’s support and reaffirmed BoCom’s commitment to driving regional economic growth.
He emphasized the bank’s dedication to executing national financial strategies, reinforcing its role as a pillar of economic stability and a key player in Shanghai’s financial ecosystem. He proposed strengthening collaboration in key areas, including finance, technology, senior care, and public welfare, through innovative, project-based approaches that would expand cooperation and improve service delivery.
Hongkou Party Secretary Li Qian acknowledged BoCom’s contributions to the district’s economic and social development. He highlighted Hongkou’s strong economic momentum, noting that the district remains committed to "clear direction and practical action" as it advances six major initiatives to establish Shanghai North Bund as an urban benchmark.
Li emphasized the need for deeper cooperation with BoCom, particularly in economic growth strategies, major infrastructure projects, industrial development, technological innovation, urban renewal, state-owned enterprise expansion, and investment promotion.
He called for innovative financial solutions in urban regeneration, business support, technology empowerment, and talent services to drive economic transformation.
Additionally, he proposed establishing a more structured collaboration mechanism, strengthening communication channels, and implementing project-based, results-driven initiatives to enhance the effectiveness of the partnership.
The meeting concluded with a shared commitment to expanding cooperation, fostering financial innovation, and accelerating regional development, positioning Hongkou and BoCom as leaders in government-bank collaboration for high-quality urban growth.