China Eastern, Construction Bank Enhance Cooperation

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Last updated at: (Beijing Time) Thursday, December 19, 2002

China Eastern, Construction Bank Enhance Cooperation

China Eastern Air Holding Company and China Eastern Airlines Company have signed a cooperative agreement with China Construction Bank (CCB).

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China Eastern Air Holding Company and China Eastern Airlines Company have signed a cooperative agreement with China Construction Bank (CCB).

According to the agreement, CCB will provide 18.3 billion yuan (2.3 billion US dollars) worth of credit for China Eastern in buying planes, optimizing assets, daily management and other fields. CCB will also act as fiscal adviser in merging, regroupingand investing.

China Eastern has signed cooperative agreements with five banksthis year, including the Bank of China, Industrial and Commercial Bank of China and CCB.

The cooperation has provided capital for China Eastern and increased the variety of bank products. The mutually beneficial agreements will push the cooperation deeper and wider, said Ye Yigan, general manager of China Eastern Air Holding Company.

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