The prefecture-level city of Quzhou – located in East China's Zhejiang province – signed a cooperation agreement with the Bank of China on Aug 3 to promote a new round of high-quality development in the city.

Under the agreement, the bank's Zhejiang branch will provide no less than 50 billion yuan ($7.74 billion) of financing for Quzhou over the next five years.

This will mainly be used for major public service support facilities, key transport infrastructure and industries, as well as for projects generating a common prosperity.

Wu Min, Party secretary of the BOC's Zhejiang branch, said that based on the city's strategic planning, the bank would keep promoting the attracting of finance to Quzhou, as well as to increase credit support for key projects and industries in the region.

At the signing ceremony, the Zhejiang branch also donated funds to Feidui village in Qingshi town, Changshan county.