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Industrial Bank Extends Loans to Support Infrastructure Construction
Sep 20, 2012 08:46Source:SMM
China's Industrial Bank Co. said Wednesday it will extend 40 billion yuan in loans to the China Railway Construction Corporation (CRCC) to support its infrastructure construction.
BEIJING, Sept. 19 (Xinhua) -- China's Industrial Bank Co. said Wednesday it will extend 40 billion yuan (6.31 billion U.S. dollars) in loans to the China Railway Construction Corporation (CRCC) to support its infrastructure construction.
The bank said in a statement on its website that it signed a contract with CRCC on Tuesday to provide financial support for the CRCC's key construction projects.
The bank will also provide the CRCC with comprehensive financial services in fields such as trade finance, cash management and green lending.
CRCC is a leading engineering contractor in China and ranked 111th among the Fortune Global 500 companies in 2012.
Industrial Bank Co. was ranked 98th in the list of China's top 500 companies released by China Enterprise Confederation early this month.
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China infrastructure construction
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