Chongqing Liangjiang Energy Conservation Company has arranged for a cross-border loan of $30 million from the Singapore branch of ICBC.

The term of the loan is 13 months and the financing cost is lower than the domestic benchmark lending rate over the same period.

The money will be used for the sourcing of LED programs at energy conservation companies in Liangjiang.

The Chongqing Development and Reform Commission approved the cross-border loan application on April 15, the first overseas financing project approved under the Sino-Singapore cooperation framework.

Chongqing Liangjiang Financial Development Co., Ltd. ("Liangjiang Financial Company") is the wholly owned financial investment enterprise of the Liangjiang New Area Administrative Committee with a registered capital of three billion yuan. It is committed to the development of real economy in the area and is of significance to Liangjiang New Area’s ambition to construct a “Financial Center in the upstream Yangtze River area”.

Liangjiang Financial Company is active in banking, insurance, financial leasing, funding, financing guarantees and small loans. Thanks to the Sino-Singapore cooperation demonstration project, development of new demonstration projects is underway. It is positioned to be a financial group with sound government structures, prominent advantages and various business sectors integrated to highlight the advantages of a fully licensed financial holding group within three to five years.

The Liangjiang Puhui Financial Center, Liangjiang Securities and other major financial projects are stepping up development.

Liangjiang Energy Conservation Group has dominated LED companies settling down at Liangjiang New Area by being the contractor of the LED Road Lamps projects. It will be at the forefront of a rapid development of the LED industry via EMC and PPP.

By the end of this April, Liangjiang Energy Conservation Company had undertaken 65 Liangjiang New Area Municipal LED street lamp projects, covering 127 kilometers of road, and procured lamps produced by Liangjiang companies with a total value of 60 million yuan.

Liangjiang Energy Conservation company has obtained over 200 patents via strategic cooperation, of which 120 are invention patents, nine are software copyrights and eight are self-owned patents, covering sectors such as municipal roads green lighting and smart municipal systems.

In addition, the Liangjiang Energy Conservation Company has taken the lead in compiling a guideline for the design and application of LED in Liangjiang New Area，

As a supplement to the Urban Road Lighting Design Standards, the guideline is expected to be a benchmark for the design of road lighting projects, LED road lamp choice and project acceptance checklists.