China LNG, CCB Shanghai sign cooperation agreement

China LNG said that it has entered into a deal with China Construction Bank, Shanghai Branch for a term of three years to cooperate in provision of integrated financial services to the group for developing the LNG businesses in China.

The agreement provides a framework by which CCB Shanghai will work closely with China LNG to provide an integrated financial services platform such as banking, loan facilities, co-branded card service, financial advisory services and other full range of integrated financial services to the company for the development of the LNG businesses in China.

Under the agreement, CCB Shanghai agreed to provide a credit facility in aggregate of the equivalent of RMB 5 billion to the group for the integrated financial services according to the funding or capital requirement of China LNG. The integrated financial services include working capital loan, insurance, fixed assets loan, import and export trade finance, bill financing, bond investment, etc.

Financial Advisory Service CCB Shanghai shall provide integrated financial solution consultation service to the group including financing consultation, settlement, debt collection, China LNG said in its statement.

Electronic Settlement Network CCB Shanghai shall provide personalized electronic financial services system to the group including finance lease withholding service and fund management service, and various other services within the China (Shanghai) Pilot Free Trade Zone.

LNG World News Staff