SHOKAI obtains a 26 Billion Yuan Line of Credit from CIB
On May the19th 2017, SHOKAI signed a cooperation agreement with China Industrial Bank Co., Ltd. Beijing branch. In this agreement, CIB grants SHOKAI a credit facility amounting to 26 billion Yuan to be used for development and construction. Mr. Li Yan, the GM of SHOKAI GROUP, Mr. Bi Yong, the CFO of SHOKAI GROUP and Mr. Yang Wenkan, GM of BEIJING CAPITAL DEVELOPMENT CO., LTD., a second-tier subsidiary of SHOKAI, attended the signing ceremony; Mr. Bi, on SHOKAI’s behalf, signed the agreement.
This is the 5th line of credit that SHOKAI has received since September 2016. In just half a year, the total credit facility has exceeded 100 billion Yuan, allowing for greater support in funding.