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CITIC Bank Offers Two Billion Loan to Shenzhen Enterprises
China International Trust and Investment Industrial Bank (CITIC) provided two billion yuan in loans (nearly 241 million U.S. dollars) today to two local enterprises.
Shenzhen Zhongxing Communication Ltd, Co., one of the loan recipients, will use the loan as buyer's credit for its customers while Shenzhen Expressway Ltd, Co., a company listed in Hong Kong, will use the loan for infrastructure construction.
Established in 1979, CITIC is a multinational group with assets worth 189 billion yuan (22.7 billion U.S. dollars). The company has a large variety of businesses ranging from banking and securities to leasing.
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