On August 12, 2009, Liu Binjie, Secretary of the Party Committee of the General Administration of Press and Publications, signed The Memorandum of Supporting the Development Strategy of the Press and Publication Industry with Bank of China Chairman Xiao Gang. Under the “Go Out” strategy, the purpose of the memo was to enlarge the coverage of the Chinese news and publication industry in the international community and to enhance China’s influence. This is one of the major industries that the Bank of China has planned to focus on. Li Lihui, Governor of Bank of China, suggested that, as a large stated-owned bank, the Bank of China has a worldwide network and can provide strong support to the “Go Out” strategy.
Source: Xinhua Net, August 12, 2009.