CHINA-GUIZHOU: GUIZHOU GOVERNMENT GIVES 70 MILLION YUAN LOAN FOR PHASE-I TECHNICAL TRANSFORMATION OF LITHIUM ION CATHODE PRODUCTION LINE
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The Guizhou Daily (October 8) reported that the Provincial Development and Reform
Commission had disclosed on October 6 that a few days ago, the Export-Import Bank of China
Guizhou Branch and Guizhou Zhenhua New Materials Co., Ltd. successfully signed a contract
to invest 70 million yuan in equipment purchase and renovation loans to be used for support of
the technical transformation project of Zhenhua New Materials Shawen Phase I lithium-ion
battery cathode material production line, marking the completion of the first loan for equipment
purchase and renovation in Guizhou. The financial discount policy for equipment purchase and
renovation loans in some fields is mainly aimed at equipment purchase and renovation projects
in 10 fields such as industrial digital transformation and new infrastructure. Eligible projects
will provide medium and long-term loans at an interest rate of no higher than 3.2%, and the
central government will give a discount of 2.5% to the loan with a term of 2 years. This policy
is another major policy of the state following the policy-based development of financial tools
and the expansion of medium and long-term loans for the manufacturing industry.
(Comment: This is the province's first loan for equipment purchase and renovation and a second
phase is planned for stabilising the economy.)
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