China Development Bank (CDB) signed an agreement Tuesday with the government of the southern Shenzhen City to provide a 200-billion-yuan (US$29 billion) credit line.
CDB, a major state-owned bank, will extend the loans over the next five years to help the city develop its high-technology and cultural sectors, improve the infrastructure and ease the financing problems of small and medium-sized companies.
More financing for those companies "will help the enterprises expand their domestic and overseas markets," said Shenzhen Mayor Xu Zongheng.
(Xinhua News Agency March 18, 2009)
