Pelagic Fishery Association Signs Agreement with Minsheng Bank for Strategic Cooperation

The two parties agreed to take the signing of the agreement as an opportunity to combine capital in the financial sector and resource of the fishery industry to promote vertical integration and modernization of China's pelagic fishing industry.

Vice Minister of Agriculture and the President of China Pelagic Fishery Association Niu Dun, Vice Governor of Minsheng Bank Mao Xiaofeng addressed the signing ceremony. Head of Modern Agriculture Finance SBU of Minsheng Bank Li Linhui and Secretary General of China Pelagic Fishing Association Huang Baoshan signed the agreement on behalf of each party respectively. The signing ceremony was also attended by Director General of China Fisheries Law Enforcement Command Chen Yide, Deputy Director General of MOA Bureau of Fisheries Cui Lifeng and relevant senior managers of Minsheng Bank.

Head of Modern Agriculture Finance SBU of Minsheng Bank Li Linhui and Secretary General of China Pelagic Fishing Association Huang Baoshan signed the agreement on behalf of the two sides.

In his address, Niu Dun thanked Minsheng Bank on behalf of the China Pelagic Fishery Association, and expressed his hope that the two parties would bring their advantages into full play to establish win-win cooperation and acheive common development. He also said that with strong financial support from Minsheng Bank, China's pelagic fishing should step up its efforts of transforming its development model in line with the Scientific Outlook on Development. It needs to continue improving its overall competitiveness and develop an effective path for inter-sectoral cooperation.

Vice Governor Mao Xiaofeng pointed out that Minsheng Bank has given priority to its financial service to marine fisheries. It has set up a special unit under the Modern Agriculture Finance SBU, Center for Marine Fishing Finance, to provide full-range, professional financial service to marine fisheries. He expressed his hope that through the joint efforts of the two parties, financial capital and resources of the fishery sector could be effectively combined to promote industrialization and intensification of marine fishery industry and break new ground for the sector.

Pelagic fisheries are an important sector of China's marine economy. Starting in 1985, China's pelagic fisheries have grown rapidly with the policy support from the government. At present, China has become one of the major players in world's pelagic fisheries. However, there's still some gap between China and the world's leading nations in pelagic fisheries in terms of equipment, production efficiency, technology and comprehensive development capacity. Increased financial support from banks will play an important role in building a stronger pelagic fishing industry for China.