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Xi’an cooperates with BOC on financing

Updated: 2019-07-31

The Xi'an municipal government and Bank of China (BOC) signed a framework agreement on financing cooperation for infrastructure projects on July 29.

According to the agreement, BOC will provide a credit line of 50 billion yuan ($7.26 billion) for infrastructure construction in Xi'an over the next three years, as well as customized services, such as the most favorable interest rate, the longest loan period, and the largest range of financing entities.

It will effectively reduce the financing cost of infrastructure construction in Xi'an, as well as entice construction entities and capital to participate in urban construction.

Li Mingyuan, mayor of Xi'an, said it is hoped that BOC will fully support Xi'an's infrastructure construction and free trade zone development to drive the city's high quality development.

Liu Qiuwan, chief information officer of BOC, said that the bank will make full use of its advantages to provide services for local enterprises in their efforts to "go out" and contribute to the construction of the Belt and Road.