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China to set up 10 billion dollar credit line for central, eastern Europe


08:20, April 27, 2012

WARSAW, April 26 (Xinhua) -- China will set up a 10 billion U.S. dollar line of credit to support cooperative projects with central and eastern Europe.

Visiting Chinese Premier Wen Jiabao announced the plan at a China-Central and Eastern Europe business forum here, saying it would accelerate the two sides' practical cooperation.

Wen said the credit line, which would be partially in the form of preferential loans, would fund projects in the infrastructure, technology and green economy sectors.

Meanwhile, China would also establish an investment cooperation fund, the goal of which was to raise 500 million U.S. dollars, he said.

China would also expedite the establishment of economic and technology zones jointly with central and eastern European countries in the coming five years, he said.

Wen said economic and trade cooperation was the most dynamic area in the ties between China and central and eastern European countries and had strong growth potential.

He said trade volume between China and central and eastern European countries reached 52.9 billion dollars in 2011 and had grown 27.6 percent a year on average since 2001, when it was only 4.3 billion dollars.

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Leave your comment2 comments

  1. Name

Stanciu Nicolae at 2012-04-2779.117.73.*
I need information regarding Chinese credit line for east european countries to make inquiry regarding loans / credits .
helen at 2012-04-27203.82.92.*
Excellent. China is indeed a friend in need!China in only interested in economic co-operation unlike the militaristic expansion of the United States.

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