Haier

Haier gets a three hundred million US dollar global credit extension tranche On June 17, a "three hundred million US dollar global credit extension tranche agreement signing ceremony between the Bank of China and Haier Group" was held at Haier Group. CEO Zhang Ruimin and President Yang Mianmian of Haier and Vice President of the Bank of China Sun Changji attended the ceremony. Chai Yongsen, standing vice president of Haier Group and Gao Yingxin, general manager of the Bank of China Business Dept, signed the agreement on behalf of each party. It is reported that Haier is the first enterprise and the only one in China that has received global credit extension from the Bank of China. Global credit extension tranche refers to that granted to enterprises by the Bank of China according to the practical needs of global businesses, which can be used in foreign countries. Through this, the development of overseas businesses of the enterprise will have convenient bank support enabling the enterprise to participate in international competition and grasp changing opportunities on the international market. Haier becomes the only enterprise in China that has received the BC global credit extension owing to its good reputation in the financial circle, its 16 successive years of steady and healthy development, its good financial conditions, and most importantly, its strong profit-making capability and development potentials. Haier is also the only enterprise in Shandong that has been awarded Class AAA credit titles by three State-run commercial banks: the Bank of China, the Construction Bank of China and the Agricultural Bank of China. Now Haier has 12 factories, 2 industrial parks and another 11 are under construction, including 2 industrial parks. In 2000, Haier's overseas purchases, sales and technical transactions totaled one billion US dollars. And Haier's overseas business scale, good market reputation and good financial conditions are factors for the winning of the BC global credit extension, which will boost the development of international markets. Mr. Zhang pointed out at the signing ceremony that Haier has realized globalization in three sectors: manufacture, purchase and sales, and all these three need global fund support. The three hundred million US dollar credit tranche will be of great help to Haier's internationalization drive.