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Datang Receives CNY30 Billion Bank Loan

June 22, 2007
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.

Tags: agreement | bank | China | China Development Bank | communications | construction | Datang | Datang Telecom | development | finance | financial | financial services | fund | innovation | IT | loan | media | service | strategy | TD | TD-SCDMA | telecom

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