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  Bank of Communications extends 30 billion yuan loan to Commercial Aircraft Corporation of China, Ltd.

On Apr., 27th, Commercial Aircraft Corporation of China, Ltd. (referred to as “Large Aircraft Corporation”) and Bank of Communications Co., Ltd. (shortened as BOCOM) held a ceremony in Shanghai for signing financial strategic cooperation agreement. Zhang Qingwei, chairman of the board of Large Aircraft Corporation, and Hu Huaibang, chairman of the board of BOCOM, sealed the Framework Agreement on Financial Strategic Cooperation. In addition, the two parties also signed the Leasing Business Cooperation Framework Agreement.

According to the agreements, BOCOM and its financial leasing subsidiaries will establish long-term and stable strategic partnership with Large Aircraft Corporation, to bring into fullplay the respective strengths of the two parties and most of all push forward cooperation in local and foreign currency short-term working capital loan, fixed assets loan, bills, aircraft leasing, equipments leasing, etc. In addition, innovative cooperation attempts will be made in global cash management, investment banking, private financial services, so as to stimulate the research and development of large airliner and regional aircrafts.