Datang Receives CNY30 Billion Bank Loan
June 22, 2007 |
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Comments | Category: Telecom & Wireless
Datang Telecom has signed a cooperation agreement with China Development Bank to receive a CNY30 billion loan for Datang to develop its TD-SCDMA service.
Analysts quoted in local media say this move will help Datang Telecom solve the fund shortage that it has been facing for a long time.
According to the agreement, the two sides will combine each of their advantages and China Development Bank will provide a full range of financial services to Datang Telecom and support the company's scaled TD-SCDMA construction over the long term.
The cooperation is part of the parties' efforts in implementing the national self-innovation strategy and fully promoting the development of China's communications industry.
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