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ABOC Grants CNY 3bn Credit Line to Changhong.
(From SinoCast China Business Daily News)
MIANYANG, January 07, SinoCast -- The Sichuan Provincial Branch of the Agricultural Bank of China (ABOC) shows its confidence in Sichuan Changhong Group, one of the largest color TV makers in the country but in the hot water presently, by granting the latter a comprehensive credit line as much as CNY 3 billion.
The television set group had seen too many troubles last year, such as anti-dumping challenge, intellectual property lawsuit, huge provision for bad debts, and expected enormous …
