Greater China
CSSC secures $6.5bn credit facility
Shanghai: China State Shipbuilding Corp has secured a big financial fillip with a RMB40bn ($6.5bn) credit line secured by state-run Industrial Bank. The news comes as analysts repeatedly talk of a credit crunch in China.
It adds to the previous RMB260bn that CSSC has taken on in credit facilities during the shipbuilding downturn. [18/07/13]