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 | Sunday, April 30, 2000, updated at 09:00(GMT+8) | ||||||||||||
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Sci-Edu | ||||||||||||
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ICBC Offers Huge Credit Line to Top UniversityThe Industrial and Commercial Bank of China (ICBC) will provide a credit line of one billion yuan (about 128 million U.S. dollars) to Qinghua University for its educational development, according to an agreement signed April 29.The agreement said that ICBC will provide a wide range of financial services for Qinghua University to develop new and high technologies and educational industries. Meanwhile, Qinghua University will fully exploit its status as one of the country's top universities to provide ICBC with support ranging from human resources development to consulting services. The two sides will also carry out beneficial cooperation in developing e-commerce. Loans granted by ICBC will be used primarily to provide a face- lift for the campus, staff and student dormitories, educational and laboratory buildings at Qinghua University as well as industries run by the University. A spokesman for ICBC said that so far the Bank has signed cooperation agreements with 22 universities in China, providing credit lines totaling 15.15 billion yuan.
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