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NAC' new 1 billion loans to expand overseas market

Jorvan From www.gasgoo.com| May 23 , 2007

The Export-Import Bank of China and Nanjing Automobile Group recently signed strategic cooperation agreement, and according to the agreement, China Eximbank will provide financing support of a total of1 billion yuan to MG projects of Nanjing Automobile Group for abroad investment, import of key technology and equipment and export of high-tech products.

MG projects adopts the third mode of China's automobile industry development mode, that is: domestic automobile enterprises own the world's leading automobile brand and core technology in the way of capital and other forms of ownership and make its business develop leaps and bounds in overseas markets. The collaboration between the two parties signifies MG projects have gained strong support from the relevant State departments.

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