Alcatel Shanghai Bell secures 500-mln-dollar credit loan

Alcatel Shanghai Bell, the first foreign-invested enterprise in the country's telecommunications sector, secured a 500-million-dollar credit loan from a state policy bank last week for expanding its export and overseas investment.

According to the agreement signed with the China Export and Import Bank (China Eximbank), Alcatel Shanghai Bell will use the loan to facilitate its export of telecommunications solutions, voice and data network components and overseas investment as the company has so far had presence in over 30 countries in all the five continents.

"Expanding our presence overseas is a priority," said Yuan Xin,Alcatel Shanghai Bell's chairman. "As a Chinese Company with access to Alcatel's global resources, the company has been doing well in tapping foreign markets."

Alcatel Shanghai Bell, a telecom technology leader in the country with 50 percent plus one share held by Alcatel and Chineseshareholders holding the remaining, delivers end-to-end telecommunications solutions and high-quality services covering the fixed and mobile networking, broadband access, intelligent optical networking, multimedia solutions and network application.

"As a bank closely aligned with national policy, out mission isto help Chinese companies strengthen their positions in world markets," said Yang Zilin, president of the China Eximbank.

"Alcatel Shanghai Bell, a leading telecom solutions supplier inChina, is a prime candidate for our support," he said.

Source: Xinhua