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Bank Promises Credit to Wuhan's "Optical Valley"
The Bank of China's Hubei branch signed an agreement Thursday with the municipal government of this capital of Hubei Province, promising huge amounts of credit for the building of an "Optical Valley" in the city.
Under the agreement, the bank will provide the project with credit worth six billion yuan and US$ 200 million over the next five years.
Wuhan has unveiled an ambitious plan to build the country's largest optical and electronics information base, which is expected to have a yearly output worth 100 billion yuan in five years.
Tu Xiangru, president of the bank's Hubei branch, said that the Bank of China has a keen interest in participating in the construction of "Optical Valley," and is ready to provide a full range of financial services to businesses involved in the project.
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