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14, the Ministry of Transport(MOT) signed a strategic cooperation agreement with Bank of Communications(BOCOM) in Beijing. Under which, the latter is to provide a 300 bn comprehensive credit quota. The cooperation will involve transport infrastructure construction in varied scope such as rural roads, highways, national and provincial main highways, road transport hubs, coastal ports, inland waterways and so on.
BOCOM has made commitment to guarantee transport sectors the maximum favorable conditions in the scale, duration as well as interest rates of financing, meanwhile to upgrade financial services covering loans, bills discounting, direct financing in the financial market, and innovative financial instruments. On the other hand, MOT will play its authoritative role in terms of both policy guidance, and organization and coordination, so as to promote the sharing of resources between two parties, who are to jointly accelerate the rapid development of China's transport industry.
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