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Chinese banks allowed to finance M&As
(chinadaily.com.cn)
Updated: 2008-12-10 16:26 The China Banking Regulatory Commission (CBRC) has amended regulations to allow qualified banks to finance mergers and acquisitions (M&As).
As one of the financial measures to boost economic growth, the amendment is aimed at bringing new opportunities for restructuring in many industries hit by the global economic downturn. An unnamed general manager from a logistics company told the National Business Daily that his company has been looking for funding to help finance its acquisition plan. "We will study the CBRC's latest move very carefully and try to obtain some loans for our projects," the manager said. (For more biz stories, please visit Industries)
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