CMB reveals credit to financial leasing companies

China Merchants Bank (CMB) has extended more than 80 billion yuan in lines of credit to domestic financial leasing companies, one of its senior executives has revealed. Zhen Huai / for China Daily

HARBIN - China Merchants Bank (CMB) has extended more than 80 billion yuan in lines of credit to domestic financial leasing companies, one of its senior executives has revealed.

Speaking on Thursday at the launch ceremony of Harbin Bank Financial Leasing Co Ltd, Li Ping, vice-head of CMB's Shenzhen branch, said that her branch alone has made 48 billion yuan available in credit to such companies.

Li did not address how much of the credit has been tapped.

Harbin Bank Financial Leasing Co Ltd has a registered capital of 2 billion yuan and counts Hong Kong-listed Harbin Bank as its promoter.

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