On October 29, Volkswagen Group and Industrial and Commercial Bank of China (ICBC) signed a memorandum of cooperation in Beijing to announce the establishment of a long-term global strategic partnership. Chinese Premier Li Keqiang and German Chancellor Angela Merkel attended the signing ceremony of the memorandum of cooperation. According to the agreement of the cooperation memorandum, ICBC will provide comprehensive commercial banking services and support for the Volkswagen Group in China and around the world.

Mulun, the new CEO of the Volkswagen Group, said, "We look forward to establishing close and mutually beneficial relations with ICBC to further improve efficiency and strengthen our business. We believe that this will not only benefit our two companies' cooperation in the international market, but also Create more value for our customers, suppliers, distributors and society."

According to the agreement of the cooperation memorandum, ICBC will provide Volkswagen Group with global credit solutions and a full range of commercial, banking, trade and financial services to ensure that the Volkswagen Group is in manufacturing, supply chain management and providing financial services to its customers. Businesses and other fields are able to conduct business smoothly and efficiently.

Regarding the signing of the memorandum of cooperation, Jiang Jianqing, Chairman of the Industrial and Commercial Bank of China, said: “We are very pleased to cooperate with the Volkswagen Group and provide strong support from our global team. The cooperation between the two parties will further highlight ICBC. A leading edge in financial services."

"The memorandum will help us further our business in China and help us respond quickly to changes in the market environment. We will be a member of the board of directors of the Volkswagen Group and the president and CEO of Volkswagen Group (China)," said Heizman. Cooperate with Industrial and Commercial Bank of China to improve business growth in China."

The new CEO of the Volkswagen Group, Mullen, came to China together with German Chancellor Angela Merkel and his party. According to previous media reports, during his stay in China, Mullen will meet with the Chinese leaders of the two joint ventures in China to discuss the future development of the public in China.

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