Bank Loan for Beijing's Olympic Construction Projects

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 ◆ Bank Loan for Beijing's Olympic Construction Projects

The China Construction Bank(CCB) announced in Beijing recently that it will provide five billion yuan in loans for construction projects for the 2008 Olympic Games.

A spokesman for the CCB said that according to the agreement reached between the bank and the Land Reserve Center of Beijing, the CCB would provide a credit line of five billion yuan for the center to carry out preliminary development of a 2.91-square kilometer area in the Olympic Park.

He said that this move would both help promote the smooth development of Olympic projects and enable the CCB display its advantage in fixed asset investment.

The CCB had listed financial services for Olympic projects as a key business and had formulated preferential policies in this respect, he said.