Dentons China Becomes the First Agency Member of Financial Cooperation Plan for Revitalizing Northeast China

On October 15, the National Development and Reform Commission (NDRC) held a general meeting of the members of the “Financial Cooperation Plan for Revitalizing Northeast China” (“Cooperation Plan”) in Shenyang, Liaoning Province, to recruit Dentons and the other five financial institutions, including the Bank of China and Jilin Financial Holding, as new members. Among the 45 members of the Cooperation Plan, Dentons is the only law firm. Xu Yongqian, a senior partner at Dentons Beijing head office, and Zhao Yinwei, a senior partner at Dentons Shenyang office, attended the meeting.

Supervised by the NDRC, the Cooperation Plan, found in Beijing by China Development Bank and the State Development & Investment Corporation, is to facilitate the access of the bricks-and-mortar industries in Northeast China to the financial sector and thus encourage the growth of the local economy. The first 40 members of the Cooperation Plan consist of the China Development Bank, the Headquarter of the Industrial and Commercial Bank of China (ICBC), the Headquarter of the Agricultural Bank of China, the People's Insurance Company of China (PICC), the China Export & Credit Insurance Corporation (SINOSURE), Beijing Shougang Fund, and major financial institutions in Northeast China. Annual meetings as well as symposiums on financing and privatizing are to be held in turn in the three provinces of Liaoning, Jilin, and Heilongjiang. Five lawyers from Dentons attended this year’s annual meeting.

As a member of the Cooperation Plan, Dentons China is going to play a more important role in revitalizing and reshaping the old industrial base of China.