The China Electronics Technology Group Corporation (CETC), one of China's leading military electronics groups, has secured credit worth CNY35 billion (USD5.6 billion) to support international sales activities, Beijing announced on 5 February.
A statement by China's State Administration for Science, Technology and Industry for National Defense (SASTIND) - the government agency that leads defence industrial policy - said that the funds would be made available to CETC through a "strategic co-operation agreement" signed earlier this month with the Export-Import Bank of China.
SASTIND said the funds would enable CETC to support export opportunities by offering its customers access to export credit, preferential loans and other financial mechanisms.
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