UOB signs MOUs in support of Chinese companies expanding through Belt & Road initiative

SINGAPORE (June 20): United Overseas Bank (UOB) has signed a total of two Memoranda of Understanding (MOUs) with the Chinese Chamber of International Commerce (CCOIC), China’s national business association, as well as Qiangjian Group, the largest construction conglomerate in Shandong Province, China.

Both agreements were signed on June 18 in Qingdao, Shandong Province, China.

The move comes as part of the bank’s effort to deepen its support of Chinese companies expanding through the Belt and Road initiative, says UOB in a press release on Tuesday, as the two MOUs will help to facilitate Chinese business investment in Southeast Asia.

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