China Finance, Inc. (OTCBB: CHFI) announced that its subsidiary is China Construction Bank’s (CCB) newest loan guarantor. On Sept. 1, CCB and China Finance’s wholly-owned operating subsidiary, Shenzhen Hua Yin Guaranty and Investment Limited Liability Corporation (“SHY”), entered into a Memo of Bank-Guaranty Cooperation and a Guaranty Cooperation Agreement.
CHFI focuses on small and medium enterprises. In a news release, CHFI says the agreement opens these enterprises to the more favorable terms offered at CCB’s 13,000 branches, while also allowing SHY to expand geographically. SHY continues to work with China Industrial and Commercial Bank in similar endeavors.
“China Construction Bank will be another important cooperative partner for us,” said Ms. Ann Yu, China Finance CEO, “and we expect this new relationship to help us expand the reach of our loan guarantee business.”
China Finance stated, “SHY expects its new relationship with CCB to help expand the company’s loan guarantee services throughout the People’s Republic of China, beyond the Chu Chiang Delta Area (including Guangxi, Guangdong, Hainan and Fujian) where the company’s efforts are currently centered.”
Let us hear your thoughts below:
