CHINA: Geely secures State loans to aid expansion overseas
Zhejiang Geely Holding Group has agreed loans of 20 billion yuan ($3.26 billion) from the Export-Import Bank of China, according to a report in The China Daily.
The report said the loan finance will be used mainly to construct plants overseas and to ease cash flow in exports. The money will also go on exports and imports of key components and international logistics bases.
Geely has a domestic sales network of nearly 1,000 4S dealers and service stations. It also has nearly 200 sales and service outlets in overseas markets.