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| ICBC, China Aluminum to start long-term strategic co-op |
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| www.chinaview.cn
2007-02-19 20:46:55
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BEIJING, Feb. 19 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC)
and the China Aluminum have signed an agreement on long-term strategic
cooperation.
Under the agreement, ICBC, China's largest lender, will provide
comprehensive financial services to the latter including loans, assets
management, financing, cash management and debt risks control.
But the ICBC didn't reveal credit line available to China Aluminum, the
world's second largest alumina maker and the country's top electrolytic aluminum
manufacturer which posted 105.5 billion yuan (about 13.88 billion U.S. dollars)
in annual sales revenue and 152.6 billion yuan (about 20.07 billion U.S.
dollars) in assets.
With an asset of more than seven trillion yuan, the ICBC boasts 2.5
million corporate clients and 150 million individual clients and holds the
largest mainland market share.
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