[advertise]广告[/advertise]March 4, 2010, China Mobile announced that they are discussing with Shanghai Pudong Development Bank on strategy cooperation. But they can not confirm when they can reach this cooperation. About one week ago, Bloomberg reported that China Mobile planed to buy a 20% stake in Shanghai Pudong Development Bank （SPDB）at a cost of 40bn yuan (about $5.9bn). The move would give China Mobile's new RF SIM-based mobile payments service a foothold in the banking services sector. Mr. Wang,jianzhou, CEO of China Mobile told reporters that the cooperation will make a foundation for future China Mobile's wireless payment service. But he admited that they have not detailed agreement with SPDB yet. He only said the there would be a result soon. According to some Chinese medias, it is not very easy for China Mobile to purchase SPDB's stake. First, according to SASAC's policy (SASAC is the government organization who are responsible for those big state-hold enterprises), State-hold enterprises cannot invest other business.Also, China's bank monitoring committe has strict rules on investment into national banks. For the reasons why China mobile chose SPDB, Wang, jianzhou said that they made this selection after one year's survey. In China Mobile's eye, SPDB is a very good public company with good managment. Her scale and financial results, stock price are all suitable for China Mobile. Especially SPDB is not a big bank, this is helpful that China Mobile can have better stake in the company. Before China Mobile, NTT Docomo from Japan and SK Telecom of Korea also purchased stake in some local banks.