Zhuhai signs 100 billion yuan loan deal

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On July 20th, Zhuhai municipal government signed a loan agreement with China Construction Bank (CCB) Guangdong Branch, China Construction Bank(Asia), China Construction International and China Construction Bank Macao Branch. According to the agreement, CCB and its subsidiaries will provide no less than 100 billion yuan (US$14.7 billion) to fund the construction of the Guangdong-Hong Kong-Macao Greater Bay Area in the following five years.

The Mayor of Zhuhai pointed out that during the transformation period Zhuhai will need to fulfill the strategic role of the Belt & Road Initiative and establish the core urban area along the west bank of the Pearl River. The key to achieving the above targets is cooperation among the government, enterprises and the wider society.

Specifically, Zhuhai plans to upgrade its infrastructure to enhance connectivity for the core urban area along the west bank of the Pearl River. A supply chain platform for tech companies will be initiated. A manufacturing base for high-end equipment will be built at the west bank of the Pearl River. Zhuhai will also adopt the "financing+internet" model to become a more livable city.

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