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Datang Telecom Receives Another CNY20 Billion Line Of Credit
July 20, 2007 |
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| Category: Telecom & Wireless
Local media reports that Datang Telecom has received a CNY20 billion line of credit from China Construction Bank.
With this line of credit, Datang Group will be able to receive as much as CNY50 billion in bank loans in the coming years. From 1998 to 2005, Datang received support from many different government departments including the Ministry of Information Industry, Ministry of Science and Technology, State Development and Reform Commission, Shanghai Municipal Government as well financial institutions like Industrial and Commercial Bank of China, China Construction Bank and China Development Bank.
Last month, Datang Telecom signed a cooperation agreement with China Development Bank to receive a CNY30 billion loan for Datang to develop its TD-SCDMA service.
In June, Datang Telecom signed a cooperation agreement with China Development Bank to receive a CNY30 billion loan for Datang to develop its TD-SCDMA service. Earlier, China Development Bank also granted a CNY4.6 billion loan to Datang Telecom for Olympics and post-TD-SCDMA commercial network construction.
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