Crédit Agricole is an enterprise and investment bank (commonly known as "French Agricultural Credit Group"), which has been approved by China Banking Regulatory Commission to transform five branches in China into corporate banks. The new entity-Credit Agricole (China) Co., Ltd. is headquartered in Shanghai and opened on August 3, 2009.

The business of Credit Agricole in China covers corporate banking, structured and leveraged financing, export credit, syndicated loan financing and capital market. The change in the status of foreign-funded corporate banks will help them explore more business opportunities in the local market. In China, CESL, a subsidiary of Cré dit Agricole Bank, and its joint ventures China Europe International Securities Co., Ltd. and CITIC Newedge Futures Co, Ltd) is currently active in the local financial market, while another joint venture company, Dragon Aviation Leasing, is mainly engaged in aircraft leasing business, which is the first domestically assembled Airbus A320 leased by Dragon Airlines to Sichuan Airlines. In addition, the Agricultural Bank of China Huili Fund Management Co., Ltd., jointly funded by Oriental Huili Asset Management Company and Agricultural Bank of China, has also performed quite well in the domestic fund market.

Patrice Couvegnes, Chairman of Credit Agricole (China) Co., Ltd. and President of Credit Agricole in Asia Pacific (excluding Japan), said: "The transformation of China's corporate bank will be another new milestone in the history of Credit Agricole in China11. I'm glad that the CBRC approved it soon, so that we can do it this year. China is one of our most important markets in the Asia-Pacific region at present, and its relatively stable performance under the influence of the global economic crisis is obvious to all. I firmly believe that the new company to be established will be able to promote the development of French Agricultural Credit Bank in China market more effectively. "

Mr. Xavier Roux, President of Credit Agricole de France and China District of Credit Agricole de France, also said: "The change of this role will greatly promote the development of our business in China, especially in the capital market and RMB financing. We will be able to work more closely with local partners and explore more business opportunities. The China Municipal Government is also accelerating the construction of Shanghai into an international financial center. I believe that with the further standardization of the local market and the agglomeration effect on financial institutions and talents, Credit Suisse Bank, which has a long history in Shanghai, can also gain more development opportunities here, which is the main reason why we chose Shanghai as our headquarters. "

Relying on the strong background of the French Agricultural Credit Bank Group, the French Agricultural Credit Bank has a global network of more than 50 countries and branches in the Asia-Pacific region 13 countries and regions. As the main business of Credit Agricole Group in China, Credit Agricole has five branches in Beijing, Shanghai, Tianjin, Xiamen and Guangzhou, and a 1 representative office in Shenzhen. With 140 employees, it provides professional financial services to more than 300 corporate customers.