Posted inChinaShanghai

FAW Group to receive US$146 bn in credits from banks

State-owned automotive manufacturer FAW Group has formed a strategic cooperation with 16 banks which intend to provide 1.015 trillion yuan (US$146.17 billion) in future credits to the company, The Paper reported. Some insiders believe that such an intentional credits shows strong support for the company, guaranteeing that it will be able to borrow from these […]