China Development Bank (CDB) has signed a five-year loan cooperation agreement with Potevio, formerly known as China Putian Group.
CDB will lend Potevio CNY20 billion for the company to develop its TD-SCDMA service. This is the largest bank loan ever provided by a domestic bank.
Potevio says it will use the money to invest in new businesses, including setting up branches abroad, forming joint ventures and conducting mergers.
At present, Potevio is mainly engaged in systems equipment, mobile phone terminals, IC cards and value-added wireless services.