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WHDZ receives investment from ICBC Hubei Branch

Updated: 2018-11-01

The Industrial and Commercial Bank of China (ICBC) Hubei Branch signed a cooperation agreement with Wuhan Economic and Technological Development Zone (WHDZ) in Wuhan, central China's Hubei province, on Oct 31, to offer financing support to the zone.

According to the agreement, the bank intends to invest no less than 50 billion yuan ($7.18 billion) in the zone, mainly for construction of urban infrastructure and public facilities, renovating old buildings and factories, and encouraging industrial investment in the zone.

In addition, the bank will offer specialized financial service plans for the zone's government-financed projects, covering areas including public facilities, education, healthcare, culture, and senior care.

The agreement will power WHDZ's efforts to build itself into a world-renowned hub for the auto industry, and promote industrial transformation and upgrading in the zone.

Hu Yabo, secretary of WHDZ's work committee and Peng Hao, director of the administrative committee of WHDZ attended the signing ceremony.

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Representatives of the Industrial and Commercial Bank of China (ICBC) Hubei Branch and Wuhan Economic and Technological Development Zone sign a cooperation agreement on Oct 31. [Photo/WeChat account of WHDZ]

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Representatives from ICBC Hubei Branch and Wuhan Economic and Technological Development Zone meet on Oct 31. [Photo/WeChat account of WHDZ]