Nanyang has strengthened its cooperation with financial institutions, such as China Life Insurance Co Ltd and China Guangfa Bank (CGB), it was announced at a symposium on Aug 4.

Senior managers from China Life Insurance's Henan branch and CGB's Zhengzhou branch held an in-depth discussion with local officials on industrial development, promoting new projects, poverty relief, brand cultivation, company listings, medical aid, social security and e-commerce.

There are broad prospects for cooperation between the two sides, with Nanyang home to 127 enterprises in preparation for initial public offering (IPO), and 560,000 mu (37,333 hectares) of organic land, which can be used for agriculture, said Zhang Wenshen, secretary of Nanyang municipal Party committee.

The ongoing poverty relief campaign in the city requires the engagement of financial institutions to provide microcredit and medical aid to impoverished people, Zhang added.

Wang Xinsheng, general manager of China Life Insurance's Henan branch, and Gao Qizhi, president of CGB's Zhengzhou branch, expressed their willingness to improve cooperation with Nanyang to achieve win-win results.