Dongfang gets expansion aid
1 June 2004
The Export Import Bank of China plans to loan Dongfang Electric a total of US$1 billion to fund the state-owned power generation equipment manufacturer's overseas expansion, according to Chinese media citing a report on the State-owned Assets Supervision and Administration Commission website. China has been pushing domestic firms to expand overseas in recent years. The Export-Import Bank has given loans totaling several billion yuan to Dongfang Electric to fund power projects in Iran and Pakistan.