Recently, Bancassurance Cooperation and Development Forum (Shenzhen Summit), sponsored by Postal Savings Bank of China (hereinafter referred to as PSBC) and supported by Dacheng Fund Management Co., Ltd. (hereinafter referred to as Dacheng Fund), was successfully held. Guo Xinshuang, President of PSBC, and Wu Qingbin, Chairman of Dacheng Fund, attended the summit and delivered speeches. 35 commercial banks and 26 insurance institutions from Central South China and South China were invited to attend the summit, at which they had extensive and in-depth exchanges on building high quality inter-bank cooperation ecology, and supporting for regional development strategies and financial supply-side reforms. 

Guo Xinshuang pointed out that the financial industry should pool more financial resources for economic innovation and transformation under the new situation by fully accumulating strength and identifying situation and responding to changes properly. Cooperation and complementary strengths will be the common choice for the development of banking, insurance and other institutions in the future. 

For cooperation among financial institutions, Guo Xinshuang suggested that from the perspectives of serving the real economy, improving the efficiency of resource allocation, assisting differentiated development, improving the comprehensive service ability, giving full play to the advantages of network, and consolidating cooperation ties, all parties should jointly explore assets, enrich the forms and channels of asset circulation, carry out mutual support of liquidity, strengthen product integration to realize one-stop service, and deepen the cooperation of intermediary business such as trusteeship and settlement, realizing deep coordinated development based on their respective advantages. 

Banks have the advantages of capital, system, talents, technologies and channels in the current financial ecology, Wu Qingbin pointed out. Dacheng Fund attaches great importance to institutional customers, and has carried out extensive and in-depth cooperation with PSBC in such business fields as direct sales, agency sales, inter-bank business and custody business. Dacheng Fund will continue to strengthen the construction of investment capacity and provide professional asset management services for financial institutions in the future. 

Due to the continuous impact of COVID-19 on the economic and financial situation, the banking industry is facing a more complex business environment, therefore the necessity and importance of cooperation among financial institutions are more prominent, the participants noted. The inter-bank cooperation has great potential and broad space in the aspects of liquidity assistance, asset circulation and custody. Banks can explore the cooperation potential in such areas as bonds and ABS (Asset Backed Securities) underwriting and investment, agency transaction settlement, joint investment of public funds, etc.. In terms of cooperation between banks and insurance institutions, business cooperation such as asset custody and industrial funds can be explored and strengthened.