Shanghai Waigaoqiao Shipbuilding (SWS) and China Construction Bank’s Shanghai branch have penned a strategic cooperation agreement on Wednesday.

The strategic cooperation will see the bank lend support to the shipbuilder with a suite of financial services such as credit facilities, consultancy, finance management and others.

The cooperation is also expected to create opportunities for SWS to construct more higher value ships and sharpen its marine engineering, as well as transform and upgrade its operations to develop a more outward-looking strategy.