Sector: Modern Finance
Investment Mode: Setting up a joint venture consumer finance company, planning to establish the Sino-European Economic and Trade Center and the Asia-Pacific regional headquarters in Sanya
On October 13, 2020, the People’s Government of Sanya and OTP Bank signed a memorandum of strategic partnership at the signing event of key projects of the Hainan Free Trade Port. Mr Kovasz, the Minister of the Hungarian Embassy in China, attended the event.
The memorandum shows that both parties strive to establish a joint venture consumer finance company, the Sino-European Economic and Trade Center and the Asia-Pacific regional headquarter in Sanya with OTP Bank, Yibao Technology Industry Development Group Co Ltd, and Sanya Development Holding Co Ltd, so as to promote the relationship between Villani and Sanya and comprehensively contribute to the construction of the Hainan Free Trade Port.
OTP Bank is the largest commercial bank in Hungary. It has advanced international financial management experience, a world-class risk scoring system and information technology system, and a great deal of experience on entering emerging markets. Mayors of Sanya and Villani had signed letters of intent to establish a sister relationship before, which built an important platform for the development of friendly relations between the two cities and laid a solid foundation for the cooperation between the OTP Bank and Sanya.