Company Report: Industrial Bank, Geely 

Lender sells bonds to raise funds for small business loans; car maker sees April sale rise

by Nadeem Xu
Company Report: Industrial Bank, Geely 

(ATF) China’s Industrial Bank has issued the first 30 billion yuan ($4.26bn) of special financial bonds for small- and micro-enterprises in the interbank market.

They comprised 23bn yuan of three-year, 2.17% debt and 7bn yuan of 2.67% securities due in five years, the Securities Times report Wednesday.

Proceeds from the sales will be earmarked for loans that support smaller businesses’ return to work.


Geely Auto's total car sales in April rose 2% year-on-year to 105,500 units, an increase of 44% from March

In the first four months of 2020, total sales were 315,500 units, a decrease of about 34% from the same period last year and reaching 22% of the group's annual sales target, according to a report by the Securites Times on Wednesday.