China’s Shanxi Provincial government has inked a strategic agreement with state-owned financial company Beijing-based China Cinda Asset Management Co.,Ltd ( Cinda Asset Management) regarding cooperation in the fields of emerging industry development, major project construction, financial risk prevention and financial innovation and development, as announced by local media resources.
In particular, Cinda Asset Management granted a total of RMB 10.9 billion ($1.58 billion) of working capital and loans to Shanxi Coal International Energy Group Co., Ltd., Lu’an Group, Yangquan Coal Industry Group Co., Ltd., Datong Coal Mine Group and Shanxi Jincheng Anthracite Mining Group Co., Ltd. in Shanxi Province.