BANK of Communications has signed a strategic cooperation memorandum with Guangdong provincial government to assist the province's economic transition and development during China's "12th Five-Year Plan" period, said the bank in a statement today.

The bank, now headquartered in Shanghai, is the nation's first state-owned joint-stock commercial bank and also one of the top five banks in the country.

According to the memo, the bank will support major projects in four infrastructure systems of Guangdong Province, namely modern integrated transport, clean energy, water conservancy, and information networks.

The bank also said to extend vigorous help to Guangdong's automobile industry development through its featured financial services.

On the other hand, Guangdong government will give backing to the bank in areas including information communication, project finance, financial innovation, administration, financial consulting, and credit construction, the bank said.