Telecom & Wireless

Datang Receives CNY30 Billion Bank Loan

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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