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PSBC Sichuan-Tibet Railway specialized sub-branch inaugurated
PSBC Sichuan-Tibet Railway specialized sub-branch inaugurated
|China Post News|2022-07-08

Recently, Sichuan-Tibet Railway specialized sub-branch of the Postal Savings Bank of China (PSBC) in Konjo county, Qamdo city, Tibet Autonomous Region was inaugurated. It is the first specialized sub-branch established by PSBC to serve the national railway construction. It is also one of the concrete initiatives PSBC has taken to serve the real economy and support the development of China’s railway.

Konjo county, located in the east of Tibet Autonomous Region, is the first station of Sichuan-Tibet Railway in Tibet. As an important cooperative bank with Sichuan-Tibet Railway, PSBC, taking into account the relevant financial service needs of Sichuan-Tibet Railway Co. Ltd., construction firms and workers, established the sub-branch in Konjo county with the approval of regulatory authorities in order to better serve the railway construction.

To build a country with strong transport strength, railway construction must come first. PSBC has always actively supported the national railway construction cause, cumulatively providing financing support of nearly 400 billion yuan (about 59.5 billion US dollars). Since the signing of the strategic cooperation agreement with China State Railway Group Co., Ltd. in September 2021, PSBC has given full play to its own advantages, constantly explored the new mode of railway and finance cooperation, and vigorously improved its all-round financial service capabilities to the upstream and downstream clients on the railway industrial chain. Taking the Sichuan-Tibet Railway project as an opportunity for cooperation, PSBC launched a cloud platform for railway construction fund supervision, which brings all links of the railway construction fund chain into the scope of supervision, and ensures the security, compliance, and efficiency in the payment of construction funds while meeting the regular settlement demands of the project companies and the construction firms. In addition to the Sichuan-Tibet Railway project, PSBC has applied this cloud platform to many railway projects, having cumulatively won the bid for supervising nearly 60 billion yuan (about 8.9 billion US dollars) of funds, thus providing high-quality and efficient financial support for building China into a country with strong transport strength.

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