Greater China

CSSC inks RMB80bn financing deal with CDB

Beijing: China State Shipbuilding Corporation (CSSC) and China Development Bank(CDB) has signed a financial cooperation agreement, under which CDB will provide a total amount of RMB80bn financing to CSSC to support the transformation of the shipbuilding conglomerate.

“With the support of CDB, CSSC will accelerate the strategic transformation and strengthen its advantages in shipbuilding, offshore, marine propulsion and marine services,” said Hu Wenming, president of CSSC.

Up until the end of 2012, CDB had been offering over RMB20bn in loan to CSSC. [06/06/13]

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