CCT Gets CNY500mn Long-term Loans from CDB. Check it out:
(SinoCast Via Thomson Dialog NewsEdge) BEIJING, Sep 26, 2006 (SinoCast via COMTEX) --China Chengtong Group (CCT) recently signed a contract for a CNY 500 million loan with China Development Bank, one of the country's three policy lenders, marking a new phase of cooperation between CDB and the nation's state-owned assets administration body as well as CCT itself.
The life of the CNY 500 million loans signed this time will be as long as ten years, and it will be used in state-owned assets regrouping, thus making it the first long-term renminbi credit extended for state-owned assets projects.
In 2005, CCT and CDB has signed a development finance partnership agreement that gave CCT a line of credit of CNY 20 billion during 2005 and 2008, and the newly-signed CNY 500 million loans was a part of that agreement with DDB, according to the company.
CCT is a large state-owned enterprise which operates the nation's largest, and the widest-spreading chain logistic network, metal distribution network and container transportation network with integrated functions in storage, distribution and information services.
From dycj.ynet.com, Page 1, Monday, September 25, 2006
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