Huawei Wins $10B Credit Deal

BEIJING -- Huawei Technologies Co., Ltd.,(Huawei) and China Development Bank (CDB), today signed a development financing agreement through which CDB will support Huawei’s international expansion with a credit facility of USD10 billion for both Huawei and its customers abroad in the next five years. Mr. Chen Yuan, Governor of CDB, and Mr. Ren Zhengfei, CEO of Huawei, attended the signing ceremony.

CDB, the biggest state policy bank of China, has extended credit facilities around USD250 billion to more than 4000 projects over the last decade which has propelled it to the ranks of international major players in the industry. The agreement signed between CDB and Huawei demonstrates the beginning for the two sides to further expand their cooperation by establishing a strategic partnership, which will help them realize a win-win achievement in the markets with the combination of both sides’ advantages in long-term credit and financing and international resources.

Huawei Technologies Co. Ltd.