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Jumbo jet maker secures 30b yuan credit line

By Song Jingli (chinadaily.com.cn)
Updated: 2009-04-29 10:20

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The Commercial Aircraft Corporation of China Ltd (CACC) will get a credit line of 30 billion yuan from Bank of Communications (BoCom) and its financial leasing arm to support the research and manufacturing of China’s home-made jumbo aircraft and regional jets.

BoCom and BoCom Finance Leasing Company signed a framework agreement on financial strategic cooperation, and a framework agreement on leasing services cooperation respectively, with the CACC in Shanghai on April 27.

Under the cooperative frameworks, the bank and its financial leasing company will establish stable long-term strategic cooperation with CACC to give full play to their respective advantages...

The full text is available in the April Issue of Logistics China. Please visit publications for more subscription details.