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SAIC Motor signs 50b yuan credit agreement
China's biggest automaker SAIC Motor and the Export-Import Bank of China signed a strategic cooperation agreement involving 50 billion yuan credit.
The credit will be used in the field of SAIC Motor's vehicles, auto parts, mobility services, auto finance, international operations as well as development of big data and artificial intelligence.
Based on the agreement, SAIC Motor and the bank will cooperate in business areas such as credit, trade finance, settlement and consulting. The Shanghai-based automaker said it will help the company further improve its global competitiveness.