China Satcom, one of the six telecom operators in China, has received a CNY15 billion loan credit extension from China Development Bank.

Zhang Hainan, general manager of China Satcom, told the local media that China Development Bank would provide CNY15 billion to China Satcom and its affiliates from the year 2005 to 2009. CNY13 billion is part of a long-term loan and the remainder would be given on a short-term basis.

Zhang said China Satcom would use the loan for the development of broadcast satellite communications capacity expansion.


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