Bank of Shanghai: 1st Local Commercial Bank to Offer Export CreditThe Bank of Shanghai reached an agreement on March 5 with the Thakral Bank of Iran on offering US$16.14-million export credit to Teheran for purchasing Chinese subway facilities, thus becoming the first local commercial bank of China granting export credit.As reported the first phase of the Teheran subway construction is so far the largest exporting project of subway facilities from China. The project is estimated to last for seven years. For Chinese local commercial banks it means a major breakthrough in the international business that the Bank of Shanghai has won the bid as the finance bank of export credit in the subway construction of Teheran, Iran. By PD Online Staff Member Deng Gang |
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