Sunday, May 24, 2009

ZTE Gains US$10 Billion Credit Line from Export-Import Bank of China

The Export-Import Bank of China (China Exim Bank) has granted a US$10 billion credit line to ZTE Corporation. Under the cooperation agreement, ZTE and China Exim Bank will join together to establish a financing platform to support ZTE and its holding subsidiaries in overseas market activities including export seller's credit, export buyer's credit, import credit, preferential foreign loans, transferred loans of foreign governments and trade financing, as well as other premium financial services. ZTE agrees to deal with China Exim Bank as a principal banker and handle loans and relevant businesses through China Exim Bank.