Yili establishes cross-border capital pool

(chinadaily.com.cn)

Updated: 2015-02-06

Inner Mongolia's cross-border centralized capital operation was launched at the autonomous region's financial management work and financial situation analysis meetings held in Hohhot on Feb 3.

Zhang Jianqiu, CEO of Yili Group, and Meng Heping, president of Bank of China's Inner Mongolia organ, signed a cooperation agreement, marking the establishment of the cross-border capital pool.

The autonomous region has made great strides in financial development over the years. It has gradually broadened thinking of financial work and made innovative work measures. As a leading Chinese dairy enterprise, Yili has actively expanded its overseas business development. The enhanced cooperation with foreign financial institutions will help the company realize rapid overseas business development. Yili has made business deployments in Europe, America and Oceania, and has conducted strategic cooperation with New Zealand-based Lincoln University. The company has engaged in strategy research of the whole dairy industrial chain and has made strategic arrangements worldwide.

Insiders believe that with accelerated internationalization, the establishment of the cross-border capital pool will help Yili with capital management and settlement among its subsidiaries in China and abroad. At the same time, the pool creates a new channel for the company to conduct financing abroad and to get into the chain of global dairy production. It will offer financial support for Yili to evolve into one of the most trustworthy healthy food providers worldwide.

Edited by Michael Thai