China Development Bank grants 20 billion yuan of credit to China National Chemical Corporation

[China Epoxy Industry Online] November 30, 2005 News: On November 25, China Development Bank and China National Chemical Corporation signed a development financial cooperation agreement, which will provide a total of 20 billion yuan of credit lines, The credit space of 40 billion yuan will support China National Chemical Corporation to carry out asset reorganization, key project construction and technological transformation in the field of new chemical materials, and promote the structural adjustment, optimization and upgrading of my country's chemical industry.
The key areas of the chemical industry play an irreplaceable role in economic development and national defense construction.
For a long time, my country's new chemical material industry has been subject to foreign technology blockade, and most of the new chemical material products needed in China have been imported.
In view of the low self-sufficiency rate of new chemical materials in my country, in order to meet the needs of economic construction and national defense industry, further expand the scale of the industry, reduce product costs, and enhance the competitiveness of my country’s new chemical materials industry, China National Chemical Corporation intends to leverage its technological advantages and expand production Ability, it is planned to build a batch of advantageous projects in about 3 years.