CICHF -- China Construction Bank (CICHF)

[War_Eagle215]

CCB to Invest More in Rural Financial Infrastructure

BEIJING, Dec 16, 2008 (SinoCast Daily Business Beat via COMTEX) -- China Construction Bank (CCB; SHSE: 601939; SEHK: 0939) lately announced that it would invest more in the rural financial infrastructure construction by itself or together with some foreign partners, in line with its strategic transformation scheme.
From now on, the Beijing-located joint-stock commercial lender plans to buy into a batch of rural financial institutions and to establish a village bank network covering more provinces and cities step by step. On December 9, 2008, the first village bank sponsored by CCB started operation in the central Chinese county of Taojiang, Hunan Province.

CCB had had outstanding agriculture-related loan of CNY 407.9 billion as of September 30, 2008, rising CNY 72.46 billion or 17.7% from early this year, and the newly-added loan for rural residents had largely hiked 80.9% to CNY 4.06 billion.

In addition, total outstanding loan the bank provided for infrastructure construction in the poverty-stricken areas in Central and West China had hit CNY 168.15 billion, with a growth of CNY 25.56 billion or 17.9%.



Source: www.cnstock.com (December 16, 2008)

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