General Manager of China Post Group and President of Postal Savings Bank of China (PSBC) Li Guohua met a delegation led by President & CEO of Morgan Stanley (MS) James Gorman in Beijing on May 24 for further cooperation.
"PSBC business has developed at a rapid speed since it was founded in 2007. With over 40,000 branches and 500 million customers, it is one of the biggest banks in China," Li said.
"In addition, China Post Group is improving the development of electronic business in rural areas. PSBC will play an essential role in this project," he added.
"Since PSBC’s location fits China's economic transformation, it has a significant advantage in serving small and medium enterprises, communities, agriculture, rural areas and farmers," Gorman commented.
"Morgan Stanley pays high attention to comprehensive and long-term cooperation with PSBC. We will mobilize global resources to support PSBC's reform and development to achieve win-win results," it as said.
Founded in 1935, Morgan Stanley is an American multinational financial services corporation. Its products include investment banking, asset management, commercial banking, and investment management.
It operates in 42 countries and has more than 1,200 offices.