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March 13, 2019

Mizuho Bank, Ltd.

Mizuho signs MOU for business cooperation with the People's Government of Changshu and the Changshu National New & Hi–tech Industrial Development Zone

On March 12, 2019, Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) and its subsidiary, Mizuho Bank (China), Ltd., signed a memorandum of understanding (MOU) for business cooperation with the People's Government of Changshu, Jiangsu Province, and the Changshu National New & Hi–tech Industrial Development Zone. The MOU is intended to attract more companies and investment to the area.

Changshu is located in the middle of the Yangtze River Delta, surrounded by major cities such as Shanghai, Nanjing, and Wuxi. It is one of the areas in China that has been attracting much attention in recent years. The Changshu National New & Hi–tech Industrial Development Zone, established in 2003 as a national development zone, hosts companies in a variety of industries, such as IT, precision machinery, automobile and automobile parts, and electronic data services. The area is expected to continue growing in the future, and has been designated by the Chinese government as a core area of national high tech services and as a model area of industry–academia collaboration in China.

Under this MOU, we will support the counterparties through providing advice on urban development and investment promotion, organizing investment seminars, and other services, and thereby provide further support to companies entering or developing businesses in the area. We are committed to contributing to the economic and industrial development of Changshu through the introduction of Japanese companies and provision of knowledge on industrial transformation.

Reference: About Changshu (figures as of 2018)
Overview Located in the middle of the Yangtze Delta region, with easy access to the surrounding major cities
Area: 1,276 km²
Population: approx. 2 million
Industries Automobile and automobile parts, precision machinery, textiles, IT, etc.
GDP RMB 240 billion