China's first Loan Syndications and Trading Association under the China Banking Association (CBA), the first of its kind in China, was established in Beijing on Aug 28.

The member banks comprise more than 30 policy banks, state-owned holding banks and urban commercial banks, including the China Development Bank (CDB), the Export-Import Bank of China (EXIMBC), the Industrial and Commercial Bank of China (ICBC), the Bank of China (BOC), the China Construction Bank (CCB), and the Agricultural Bank of China (ABC), and the CCB vice president, Zhao Lin, was elected the chairman of the association.

According to the memorandum of understanding (MOU) of the Loan Syndication passed at the first general conference of the association on Aug 28, the member banks have priorities to loaning when the total financing exceeds 3 billion RMB yuan or the equivalent foreign currency of some 375 million US dollars by a single enterprise or a single project in the mid-term or long-term loan.

By People's Daily Online