It is a strategic partnership. HSBC provides technology and the management method is run by Bank of Communications.

Deepen cooperation in the following three aspects.

First, HSBC is directly involved in the operation and management of Bank of Communications. On the one hand, the nomination of two directors of HSBC has been approved by the shareholders' meeting and will participate in the operation and management of Bank of Communications through the board of directors. On the other hand, HSBC also has the right to send a senior manager into the senior management of Bank of Communications.

Second, business cooperation is being actively promoted. After HSBC becomes a shareholder, the strategic cooperation between Bank of Communications and HSBC will be carried out in multiple business areas. The spokesperson said: "According to the Credit Card Business Cooperation Agreement, Bank of Communications will cooperate with HSBC to establish an independent business unit to engage in credit card business. The credit card business unit has already begun preparations and will be put into operation in the near future."

< p>According to the "Brand License Agreement", HSBC licenses Bank of Communications to use the brands of HSBC Group and HSBC Bank for a period of three years. Therefore, "In the next step, Bank of Communications also plans to establish a more extensive and close strategic cooperative relationship with HSBC in terms of corporate business, international business, risk management, human resources management, etc."

Third, technical support and collaboration are underway. According to the "Technical Support and Assistance Agreement", HSBC will provide certain technical support and services to Bank of Communications every year, including five aspects: risk management, corporate governance and internal control, financial management, asset and liability management, and human resources management. Bank of Communications can send a small number of key personnel to HSBC every year to learn management. "At present, the two sides have established a technical support and assistance committee and established a high-level exchange consultation mechanism."