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PSBC, Tencent and WeBank Join Forces
PSBC, Tencent and WeBank Join Forces2018-06-21

Vice President of the Postal Savings Bank of China (PSBC) Qu Jiawen, Director of the Financial Policy Office of Tencent Ma Xiaodong and Supervisor of  WeBank (China) Wan Jun signed a strategic cooperation agreement on behalf of the three parties at a signing ceremony in Beijing on June 14, 2018.

President of the PSBC Li Guohua and chief executive officer of Tencent Ma Huateng attended the event and witnessed the signing of the agreement.

Vice president of  PSBC Zhang Xuewen presided over the ceremony.

According to the agreement,  PSBC, Tencent and WeBank will give full play to their respective advantages and carry out all-round and multi-level cooperation in financial service, financial technology and other fields.

As for financial service, they will strengthen cooperation in Internet finance, consumer credit, supply chain finance and corporate finance. In the field of financial technology, the three parties will launch extensive cooperation and communication training in cloud computing, big data, artificial intelligence, block chain and information security, etc.  Additionally, they will cooperate in user research and user experience.

Tencent is one of the largest Internet integrated service providers in China and one of the Internet firms that serve the most customers in China.

Tencent launched WeBank (China), China's first online-only bank, in 2015. It is committed to providing differentiated financial services to the public as well as small and micro-enterprises.

Tencent became a strategic investor of  PSBC in December 2015. It joined WeBank (China) and signed a strategic cooperation agreement with PSBC. They have since then cooperated in electronic payment, consumer credit, Wechat Bank, marketing, user experience, and other fields.

The three sides will cooperate again now, in a strategic move to obtain mutual benefit. They will complement each other, accelerate each other's transformation and development, and foster differentiated competitive advantages, thereby better supporting the development of the real economy and benefiting people's livelihood.

 

(China Post)

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