ICBC pledges support for China's publishing industry

ICBC agreed to loan at least US$9.1 billion to China's press and publication sector over the next five years.

Under an agreement signed Wednesday by Liu Binjie, head of the General Administration of Press and Publication, and ICBC chairman Jiang Jianqing, the loan will mainly finance improvements to financial services such as financial consultation, credit and financial management.

It is the GAPP's fourth loan agreement with a bank since its first with Bank of China in August 2009.

GAPP deputy director Jiang Jianguo said the move signalled closer cooperation between the government, banks and cultural enterprises.

The biggest commercial bank of China, ICBC eyed the press and publication industry as an emerging industry of strategic importance and had been exploring new financial services for businesses in the industry,said ICBC president Yang Kaisheng.

The ICBC made a net profit of US$19.3 billion in the first three quarters of last year, up 27.19 per cent year on year.

Follow the link for more news on

Also Read

Malaysia's private sector credit grows 5.4% in April

Hong Kong mortgage loans drawdown rises by 9.9%

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia