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ICBC, China Aluminum ink deal(Xinhua)Updated: 2007-02-20 09:00 The Industrial and Commercial Bank of China (ICBC) and the China Aluminum have signed an agreement on long-term strategic cooperation. Under the agreement, ICBC, China's largest lender, will provide comprehensive financial services to the latter including loans, assets management, financing, cash management and debt risks control. But the ICBC didn't reveal credit line available to China Aluminum, the world's second largest alumina maker and the country's top electrolytic aluminum manufacturer which posted 105.5 billion yuan (about 13.88 billion U.S. dollars) in annual sales revenue and 152.6 billion yuan (about 20.07 billion U.S. dollars) in assets. With an asset of more than seven trillion yuan, ICBC boasts 2.5 million corporate clients and 150 million individual clients and holds the largest mainland market share. (For more biz stories, please visit Industry Updates) |
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