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BOC Offered US $300m Global Line of Credit to Haier
Haier Group (HG) obtained the Global Line of Credit totaling US $ 300 million offered by the Bank of China (BOC), touching credit, guarantee, trade finance and other financial service.
Boomed in recent years, HG achieved global revenue up to some 40.6 billion yuan in 2000, export earning came to US $28 million. Successful localization of products has made Haier a famous brand in Europe, US, the Middle East, etc. Shortly after its landing in the US in 1999, Haier turned to Pakistain, Bengal, etc., setting up industrial parks and manufactories. Up till now, a web of HG production has formed among over ten countries.
HG and BOC hold a long-term cooperation. The latter provides financial support through its many overseas branches and advanced financial business to meet the need of HG's development in foreign lands, which created today's Global Line of Credit.
By PD Online Staff Yin Zhili
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