ZTE Corporation recently released an announcement, planning to apply for loans of CNY 14 billion in renminbi and USD 180 million in US dollar for daily operation, which has been agreed by the board meeting held on June 5, 2009.

Earlier, ZTE Corporation, a leading provider of telecommunications equipment and network solutions in the nation, inked a strategic cooperation agreement with the Export-Import Bank of China, a state-owned bank under the direct administration of the State Council, the nation's cabinet. The lender agreed to give priority to ZTE on credit support, like export seller's credit, export buyer' credit, import credit, foreign government's sub-loan and trade financing, loans for high-quality financial services, and foreign preferential loans, and offered USD 10 billion quota.

ZTE also announced several days ago that it would sign a 2G equipment purchase framework contract with PT. TelkomunikasiSelular (Telkomsel), the largest mobile telecom operator in India.

Source: hexun