CBD

ZTE signs $20bn agreement with China Development Bank

Chinese infrastructure vendor ZTE has extended its strategic partnership agreement with China Development Bank (CDB). As a result, CDB will expand its financing facility for ZTE to $20bn. In 2005, CDB and ZTE began their cooperation, agreeing a facility of $8bn, and then in 2009, the same year rival Huawei signed a $30bn deal with the CDB, the facility was increased to $15bn.

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