ZTE Gets Expanded Financing from China Dev Bank

China Development Bank bolsters partnership with ZTE, financing facility expanded to US$20B

December 4, 2012

1 Min Read

SHENZHEN, China -- ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and mobile devices, today announced the company entered into a new strategic partnership agreement with China Development Bank (CDB) to deepen business cooperation. Chen Yuan, Chairman of CDB, and Hou Weigui, Chairman of ZTE, officiated at a ceremony in Beijing to celebrate the strengthening of a partnership that leverages the financial resources of CDB and ZTE’s superior technology in the telecommunications industry.

Under the new agreement, CDB will expand its financing facility for ZTE to US$20 billion, as the two sides build on their long-term partnership of mutual trust. In 2005, CDB and ZTE began their strategic cooperation based on international standard practices, agreeing a facility of US$8 billion. In 2009, the facility was increased to US$15 billion.

The prevailing conditions in the global finance offer new opportunities for CDB and ZTE to deepen their cooperation - CDB will utilize its strengths in integrated financial services to help ZTE achieve its strategic goals, and drive ZTE’s overseas investment and business development in priority sectors.

ZTE Corp. (Shenzhen: 000063; Hong Kong: 0763)

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