WEDZ receives 50b yuan credit support

Representatives of the Wuhan Economic & Development Zone (WEDZ) signed a strategic cooperation agreement with the Wuhan branch of the Agricultural Bank of China on Aug 19. 

According to the agreement, the ABC Wuhan branch will provide an intentional credit line of 50 billion yuan ($7.02 billion) over the next three years to support key projects and enterprises within WEDZ. 

At the event, a representative from the ABC Hubei branch elaborated on the financial service plan to support the high-quality development initiative. The bank will focus on crucial project construction, industrial transformation and upgrading, market entity cultivation, innovative financial services, and residents' well-being in WEDZ. It will provide more precise and diversified financial services to promote the zone's high-quality economic and social development. 

In recent years, the ABC Hubei branch has provided credit support to key enterprises such as Dongfeng Motor Corporation and significant projects like the Junshan Campus of Huazhong University of Science and Technology, fully supporting WEDZ's high-quality economic and social development. 

On the same day, the ABC WEDZ branch signed cooperation agreements with Wuhan Economic Development Industrial Investment Group Co, Wuhan Junshan New City Technology Investment Group, Wuhan Jingkai Modern Agriculture Development Co, and Wuhan Vehicle Valley Urban Development Group Co.