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ICBC Invests Heavily in West China
The Industrial and Commercial Bank of China (ICBC) said Tuesday that in 2000 the bank granted loans of 20.9 billion yuan to support infrastructure projects and key enterprises' technological advancement in West China.
A spokesman for the ICBC said that in its investment in the western regions, the bank has especially reinforced infrastructure construction projects in transportation, power-supply networks, telecommunications, energy and other sectors that have been listed in the State's development plan and have good profitability.
The bank has also given key support to traditional enterprises with good market shares and good profitability in western regions to adopt new and high technologies.
The spokesman said that some of the projects supported by the ICBC have started operation and are playing a significant role in the economic development of the western regions.
He said that this year the ICBC will continue to increase its support for the western regions through various financial service measures.
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