A visitor inquires about financial services at a Bank of China booth during a financing fair for small businesses in Beijing. [Photo by Chen Xiaogen/For China Daily]

On Sept 10, Bank of China (BOC), a large State-owned commercial bank, published in Hangzhou, capital of Zhejiang province, an action plan to support the high-quality development of Zhejiang as a demonstration zone for common prosperity.

BOC is the first financial institution to come up with a dedicated proposal to bolster Zhejiang's drive to achieve common prosperity.

The release of the action plan was witnessed by Liu Lianke, chairman of BOC, as well as Yuan Jiajun, Party secretary of Zhejiang, and Zheng Shanjie, Governor of Zhejiang.

The action plan consists of 25 concrete measures involving economic development, ecological preservation, and social welfare. BOC plans to offer Zhejiang authorities at least one trillion yuan ($155 billion) in additional intended financing support over the next five years, of which no less than 200 billion yuan will be earmarked for the province's 26 mountainous counties with economies that are lagging behind.

On the same occasion, the Bank of China Group Investment Limited (BOCG Investment), a wholly-owned subsidiary of BOC which acts as its major platform for direct investment business, and the Zhejiang Provincial Department of Economy and Information Technology, signed a strategic cooperation agreement.

The BOC's Zhejiang branch signed cooperation agreements with the governments of Wenzhou, Jinhua, Taizhou, Lishui, Quzhou, and Hangzhou's Chun'an to lend financial support for their accelerated development of mountainous regions.

The BOC's Zhejiang branch also signed a cooperation agreement with China General Nuclear Power Corporation (CGN) to build a nuclear power plant in Cangnan county, as well as with Zhejiang Petroleum & Chemical Co (ZPC) to help its second-phase construction on a petrochemical plant in Zhoushan.