The Postal Savings Bank of China (PSBC) and Shenzhen Chuangxin Qizhi Technology Co., Ltd. held a signing ceremony on strategy cooperation in Beijing on August 30, 2018.

Vice President of the PSBC Qu Jiawen and CEO of Chuangxin Qizhi Xu Hui signed the agreement on behalf of the two sides respectively. PSBC President Lv Jiajin and Sinovation Ventures President and CEO Kai-Fu Lee witnessed the signing of the agreement.

PSBC chief engineer Xu Zhaohui presided over the event. 

According to the agreement, PSBC and Chuangxin Qizhi will cooperate in technology, banking, and technology application.

In line with the principle of “giving full play to advantages, integrating resources, powerful combination, mutual benefit and win-win results,” the two sides will give full play to their respective advantages in the fields of financial services and artificial intelligence technology, cooperate in the core technology of artificial intelligence, intelligent data centers and application of artificial intelligence business scenarios, and jointly execute the application of artificial intelligence technology in financial services.

As a large retail commercial bank, the PSBC has always been committed to providing advanced and superior services to the most dynamic customer groups during China's economic transformation.

The PSBC has adhered to a technology-led development strategy, laid out the application and development of artificial intelligence in financial business, such as business management and customer service, and effectively promoted the level of intelligent financial services.

As a scientific and technological enterprise, Chuangxin Qizhi uses both the technology of artificial intelligence, and endows traditional industries with them. Relying on the brand of Sinovation Ventures, the company will focus on finance, retail and manufacturing, help enterprises and partners to innovate and optimize business models, and speed up the digital transformation.

The signing of the agreement will be conducive to the PSBC's  further enhancing the application of artificial intelligence technology, accelerating the digital transformation, and developing itself into a smart bank.