Mitsubishi UFJ Financial Group (MUFG) will further promote cooperation between Japanese enterprises and their counterparts in Shandong province, said Nobuyuki Hirano, the company's chairman.

Nobuyuki Hirano, chairman of Mitsubishi UFJ Financial Group [Photo provided to chinadaily.com.cn]

Hirano made the remarks during his online speech at the Japan session of the "Connecting Shandong with Fortune Global 500" serial event held on Nov 10 in Jinan, capital of Shandong.

"MUFG has purchased local banks in several Asian countries such as Thailand and Indonesia which are willing to help Chinese companies expand overseas and help Japanese and Chinese companies cooperate in third-party markets," said Hirano.

He also spoke highly of Shandong's efforts to expand trade.

"Through the establishment of a pilot free trade zone and other measures, Shandong has formulated efficient electronic customs clearance procedures. Improved efficiency in matters related to trade through the use of software can be expected to further promote trade growth," he said.

He added that MUFG will establish a cross-enterprise cooperative alliance to support the further development of enterprises. This will be achieved by managing all business information electronically, which will improve the efficiency of transaction processing and trade settlement.

MUFG is a leading global financial services group and one of the largest banking institutions in Japan. It established a strategic partnership with Shandong in 2011.