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June 10, 2019

Mizuho Bank, Ltd.

Mizuho signs MOU for business cooperation with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products

Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) and Mizuho Bank (China), Ltd. have signed a memorandum of understanding (MOU) for business cooperation with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME). We are the first non–Chinese financial institution to sign such an agreement with CCCME.

CCCME was founded in 1988 under the Ministry of Commerce of China as an NPO serving the machinery and electronics industry nationwide. In 2016, it was detached from the Ministry of Commerce, in line with the central government's policy to separate industrial organizations from government ministries. The members of CCCME include a large number of companies and entities engaged in manufacturing, the import and export of machinery and electronic products, and overseas projects and events related to the industry.

The machinery and electronics industry plays a major role in supporting the growth of the Chinese economy. Its output is the largest in the world consecutively since 2008, and exports are growing, recording a 7.9% year–on–year growth to RMB 9.16 trillion in 2018. The CCCME has also grown steadily, with about 13,000 members at present.

This MOU is intended to facilitate exchange of information concerning corporate investment and collaboration trends in the two countries, as well as to keep each other updated on international trade news and the policies and regulations of the two governments. By working with CCCME, we will provide enhanced support to Japanese companies through such means as business matching with CCCME member companies.