[ET Net News Agency, 28 May 2018] Harbin Bank (06138) clarified its operation is steady
and sound after certain media reported that the bank entered into a long-term strategic
cooperation agreement with Wuzhou International (01369) in 2014.
The bank further clarified that it agreed to grant a comprehensive credit line of not
more than Rmb2 billion for a term of 10 years from then on to Wuzhou International and its
subsidiaries for their production and operation and project construction purposes under
the premises of being in compliance with the national regulations, the regulatory policies
and the credit conditions of the bank, which includes the mortgage facilities granted to
the commercial tenants and the property owners for their purchases of all the properties
including shops, apartments, offices and residences under the development projects of
Wuzhou International and its subsidiaries.
To-date, the actual cooperation between the bank and Wuzhou International and its
subsidiaries as mentioned above has been limited only to the mortgage facilities business
provided to the commercial tenants and the property owners of the Mudanjiang Wuzhou
International Trade Exposition City by the Mudanjiang Branch of the bank since August
2014. As of now, there are 253 existing businesses in total, with outstanding facilities
amounting to Rmb39.5456 million. All of such facilities are currently under normal
conditions. (HL)