Shanghai World Expo gets 5.5 billion yuan loan

Home>>Business

Last updated at: (Beijing Time) Friday, April 09, 2004

Shanghai World Expo gets 5.5 billion yuan loan

The first loan of 5.5 billion yuan (664 million US dollars) for Shanghai World Expo scheduled for 2010 was ensured Thursday.

DISCUSSION

CHINESE

SEND TO FRIEND

The first loan of 5.5 billion yuan (664 million US dollars) for Shanghai World Expo scheduled for 2010 was ensured Thursday.

The Shanghai World Expo Land Holding Co., Ltd., which is responsible for land acquisition and development and facility construction, signed the loan agreement with a syndicate of Industrial and Commercial Bank of China, the Bank of Shanghai and Shanghai Pudong Development Bank Thursday afternoon.

The Shanghai municipal government has announced that the expo will cost about 25 billion yuan (3 billion US dollars), of which 17 billion yuan will be spent on land acquisition and relocation of residents and institutions, and another 8 billion yuan will go to construction of facilities for the expo.

Besides providing financial support, the government has also set up the Shanghai World Expo Group Corporation to take charge offund raising, management and debt repayment.

Source: Xinhua

Questions?Comments? Click here

World Expo offers business opportunities for private enterprises

Shanghai sets sights on sleek map for Expo

Expo 2010 preparations in full swing

China tries to break Boeing, Airbus domination with self-made aircraft ( 6 Messages)

Will "Section 301" affect Chinese economy? ( 2 Messages)

Taiwanese businessmen further expand investment in Chinese mainland ( 2 Messages)

Japanese court rules PM's shrine visit "unconstitutional" ( 12 Messages)

China urges US to honor promise on Taiwan issue ( 4 Messages)

How the US could improve its image abroad ( 202 Messages)