19 May 2013
Everbright International and China Development Bank Enters into Strategic Cooperation Agreement
Aims to Promote Mutual Benefit and Joint DevelopmentMay 19, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has entered into a strategic cooperation agreement (the "Agreement") with China Development Bank ("CDB") to initiate a comprehensive and strong cooperation. According to the Agreement, CDB will provide financing support to Everbright International to the amount of RMB10 billion for the period from 2013 to 2018, in line with the Group's development plan and financing requirement. This will provide a strong financial support to the Group as it continues to strengthen and expand in the environmental protection industry.
This Agreement further demonstrates the confidence that both parties have in the prospect and long term development of the environmental protection industry. At the same time, through this long term cooperation with CDB, Everbright International will further consolidate its leading position in the industry. CDB will support the business development strategy of Everbright International with its large capital scale, long maturity period and steady capital source, in line with national macro-economic policies, industry policies and regional development policies of the PRC. The remit of the cooperation includes the Group's three major business sectors, namely environmental energy, environmental water and alternative energy as well as supportive measures to help Everbright International develop overseas markets in the area of environmental protection.
Mr. Chen Xiaoping, CEO of Everbright International, expressed gratitude to CDB for their support. He said, "The signing of this Agreement will further deepen the cooperation between CDB and Everbright International, and at the same time, provide us with a steady and long-term financing support. It is the fruitful result of the joint synergy between a premium bank and a quality company, and is set to bring more opportunities for development for both parties and drive the rapid growth of the environmental protection industry."