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Bank Provides Loans to Processing Zone for Export
The Sichuan Branch of the Construction Bank of China will grant 2 billion yuan in loans to the Chengdu Processing Zone for Export (CPZFE) for an all-round financial service upgrade in the upcoming five years.
According to an agreement signed between the two sides, the loan will be used for construction of infrastructure projects and improvement of banking services, such as settlements and a net service for foreign companies involved in processing in the zone.
The CPZFE, founded on April 27 last year, is one of the 15 state-listed processing zones for export in China and the only of its kind in the country's western region. It processes new and high-tech products for export, earning an export value of US$2 billion annually.
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