On 10 December, Ms. Bu Xiaolin, Vice-Chairperson of the Government of Inner Mongolia Autonomous Region (IMAR) and Mr. Song Liang, Director of the Finance Office of IMAR, visited the office of Everbright. 

 

On 11 June 2010, Everbright entered into a memorandum of understanding with IMAR, initiating their cooperation in small-loan companies and other financial areas in Inner Mongolia. Everbright will provide financing assistance to SMEs in Inner Mongolia. Through the Finance Office of IMAR, Everbright also promotes relevant financial products to key corporations and individuals in Inner Mongolia, and provide assistance for the listing of Inner Mongolian companies in Hong Kong. Everbright will employ its integrated advantages when exploring investment opportunities in energy, resource and other promising industries in Inner Mongolia. 

 

They agreed that it is important for a resource-rich region like Inner Mongolia to have a long-term strategic plan that allows it to reduce reliance on mining-related industries and diversify into a multi-industry mode of development. 

 

During the meeting, Mr. Song Liang also mentioned how the cooperation with Everbright might benefit IMAR. In particular, Everbright’s cooperation with the IMAR government in setting up funds to assist the development of local SMEs will have far-reaching impacts. 

 

The parties have agreed to maintain close contact with each other and promote further cooperation in energy, resources, private equity, corporate investment and financing businesses.