On May 20, President Zheng Guoyu of China Post Group Corporation Limited (hereinafter referred to as China Post) and President Dong Junfeng of China UnionPay Co. Ltd. (hereinafter referred to as China UnionPay) held a working meeting in Shanghai and jointly witnessed the renewal of the strategic cooperation agreement of both sides.

China Post and China UnionPay boast distinctive advantages in resources, business and service in their own fields. They are committed to establishing a long-term mutually beneficial strategic partnership. According to the agreement, both sides will deepen cooperation in many fields. To spur consumption, both will jointly invest resources in county-level consumer markets, “trade-in” programs and farm produce sales, and conduct specialized consumption promotion activities. In banking business, both sides will focus on business synergy and push forward the interconnected development in key areas, like card issuance and utilization, payment service optimization, UnionPay payment acceptance, inclusive finance development, techfinance application and digital finance. At the same time, both will conduct cooperation in the fields of express and logistics, insurance, securities, and new media advertising.