CDB extends RMB 6.5 bln credit line to CIMC

Published: 22 Mar 2009 20:10:20 PST

Mar. 23, 2009 (China Knowledge) - China Development Bank (CDB), which recently transformed from a policy lender into a stockholding commercial bank, extended an RMB 6.5 billion (US$951 million) line of credit to China International Marine Containers (Group) Co Ltd (CIMC)<000039><200039>, the Shanghai Daily reported.

According to the Chinese container maker's filing with the Shenzhen Stock Exchange, the company plans to use part of the funds to help expand its business in overseas markets.

CIMC is the world's biggest container-manufacturing company by production.

CDB is striving to help China's private enterprises to expand their foreign businesses, especially their investments in minerals and natural resources, China Knowledge reported earlier.

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