Fosun High Technology and eight Chinese banks held a syndicated loan signing ceremony at the Bund Financial Center in Shanghai. According to the agreement, these eight banks, as participants, will jointly form a syndicate to provide Fosun High Technology with a loan totaling RMB 12 billion.

The Industrial and Commercial Bank of China, the Agricultural Bank of China, the China Construction Bank, and the Communications Bank, as joint lead banks, and the Minsheng Bank of China, the Export-Import Bank of China, and the Shanghai Pudong Development Bank are the banks concerned. Shou Ziqi, Vice President of the China Federation of Industry and Commerce congratulated the successful conclusion of the syndicated loan. He said that the 8 banks have taken concrete steps to implement the “unshakable two,” which have further expanded funding channels for private companies and reduced funding costs.

According to him, syndicated loans are not only of great importance to Fosun, but also play a positive role in securing prospects and increasing the confidence of private companies in Shanghai and even across the country.