China Development Bank to deliver intent commitment loan of Rmb 4 billion to Yuchai
In the afternoon of Aug 1, the ceremony for signing strategic collaboration agreement between Yuchai Group and China Development Bank was held in Yulin Hotel. Yan Ping, president of Yuchai, and Zhang Xuguang, president of Guangxi Branch of China Development Bank, signed the strategic collaboration agreement in the ceremony. In terms of the agreement, China Development Bank will deliver intent commitment loan of Rmb 4billion to Yuchai to offer financial support to Yuchai.
Deputy director of Guangxi Economy Committee Li Wanfu, mayor of Yulin Jin Xiangjun and vice mayor of Yulin Wei Liping were present in the ceremony.
Yan Ping, president of Yuchai shaking hands with Zhang Xiaoguang
Li Wanfu gave a speech in the ceremony. On behalf of Guangxi Economy Committee, he expressed his warm congratulations to the collaboration between Yuchai and China Development Bank, wishing the collaboration succeed and better future for both parties.
"Industrial enterprises are key factors to local economy"said Jin Xiangjun, mayor of Yulin, "Yulin municipal will fully support Yuchai and deliver service for Yuchai".
Zhang Xuguang and Yanping gave speech in the ceremony to express their sincerity and confidence in the collaboration.
In terms of China's macro economic policies, with the advantages in scale of capital, long term, stable capital source and high level credit, China Development Bank will deliver long-term financial supports to asset merger and reformation, infrastructure of all businesses, technical upgrading projects and other operating businesses of Yuchai.
Yuchai committed to offer priority to China Development Bank in taking key projects of Yuchai under same conditions, and Yuchai will get more loan from China Development Bank, thus a long-term sustainable collaboration will be formed.
The collaboration between Yuchai and China Development Bank is significant for Yuchai to resist financial risk and increase its competitive power. After the signature, both parties opened bottle of champagne to cheer for the strategic collaboration.