On September 30, 2003, in Moscow, Sberbank and Industrial and Commercial Bank of China, the largest state-owned commercial bank in China, signed a Cooperation Agreement.
 Sberbank and Industrial and Commercial Bank of China recognise the areas of settlements, trade and project finance, facilitation of the cross-boarder trade and other sorts of transactions as priorities for their business development.
 Earlier in April this year, a delegation of Sberbank's Dalnevostochny Head Office, during the visit to Harbin, signed the Agreement with the Heilongjiang Provincial Branch of Industrial and Commercial Bank of China on opening of a correspondent account. Establishing of direct correspondent relationships within the framework of the cooperation at the level of the banks' branches, facilitated the payment processing and money transfers between the customers of both banks, which are members of SWIFT.
 The signing of the Cooperation Agreement between Sberbank and Industrial and Commercial Bank of China aims at further strengthening of mutually beneficial partnership, which will contribute to enhancement of economic interaction and development of foreign trade between the Russian Federation and the People's Republic of China.

Sberbank Press Service