April 29, 2019

Chinese private rail lands lenders

China’s first privately controlled high speed railway project has landed CNY28.1 billion ($4.18 billion) in finance.

China Development Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and two other lenders will provide the loan for the project, which is controlled by a consortium led by Hong Kong-listed investment firm Fosun International and the Zhejiang provincial government.