CCB signed China's first global credit grants with Ford

China's domestic bank signed first global credit grants agreement recently. The deal was clinched between Chongqing branch of Construction Bank of China and Ford Motor & Ford Motor Credit.

Any Ford's subsidiaries around the world can seek to secure a loan not more than 600 billion USD from the lender. This is the first time that China Banking Regulatory Commission has approved a domestic bankĄ¯s one-to-one cross-border credit extension to an overseas parent company of a multinational.

This also makes the Construction Bank of China one of Ford's cooperative banks for its global operation.

By People's Daily Online