On June 26, 2015, ICBC and Baidu Online Network Technology (Beijing) Co., Ltd. signed a strategic cooperation agreement in Beijing, marking the official establishment of strategic partnership.

According to the agreement, ICBC and Baidu have reached intent of cooperation in Internet finance, map service, online marketing, financing business, life services, among others. Both parties plan to carry out in-depth cooperation in O2O platform, online payment, LBS service, mobile terminal development etc. and launch a series of innovative products and services with higher application value that better adapt to the market and meet customer demands. Meanwhile, ICBC will provide comprehensive, high-quality and efficient financial services such as intended financing and investment banking for Baidu and its associated enterprises and customers of Baidu platform.

ICBC President Yi Huiman said on the signing ceremony that ICBC, based on its Internet finance infrastructure, by following up with state-of-the-art information technology, is committed to building a new financial service model which is guided by the platform strategy, highlighted by intelligent financial services, characterized by online and offline interaction and supported by comprehensive application of Big Data. During the process, Baidu, with its substantial Internet resources and technology advantages, will inject new power into the e-ICBC brand development and bring to a higher level the integration and development of financial business and information technology,. ICBC and Baidu will continue to conduct more long-term, comprehensive, steady and profound cooperation in comprehensive finance, Big Data and other fields, and bring intelligent, smart and more satisfactory financial life for customers through enhancing core competitiveness of the two parties.

As one of the most cutting-edge and powerful Internet companies in China, the world’s largest Chinese search engine and an important domestic Internet access entry, Baidu boasts the most extensive Big Data, globally leading innovation strength and most excellent Internet platform and products. A number of its life applications have been downloaded over 100 million times, of which Baidu Map and Baidu Search have been downloaded over 1.2 billion times. ICBC and Baidu are highly complementary in terms of customer service beliefs, target positioning, development strategy and advantageous resources, guaranteeing broad cooperation space. As “Internet +” becomes an important component of China’s economic and social development strategy, the two parties will follow the Internet mentality of openness, equality, cooperation and mutual benefits to create a new long-term, comprehensive, steady and profound cooperation model of “Finance + Internet” and build healthy, virtuous, inclusive, open and vigorous Internet and financial ecology. This not only helps strengthen core competitive edges of the two parties, but also motivates and leads more Internet and financial enterprises to better serve transformation and upgrading of the real economy and meet the needs of our times for extensive start-ups and innovation.