"GCL-POLY ENERGY : Golden Concord Group Obtained Substantial...

"GCL-POLY ENERGY : Golden Concord Group Obtained Substantial Support from China Development Bank Corporation as the Two Parties Entered into A Financing Cooperation Agreement for Development
06/01/2011 | 08:00pm

For Immediate Release 1 June 2011

Golden Concord Group Obtained Substantial Support fromChina Development Bank Corporation as the Two Parties Entered intoA Financing Cooperation Agreement for Development
On 1 June 2011, China Development Bank Corporation and Golden Concord Group Limited (“Golden Concord Group”, the “Company” or the “Group”) signed an agreement for financial development and cooperation in Hong Kong, pursuant to which both parties agreed to build a new investment and financing model which would deepen cooperation in all front between the financing group and industrial group and capitalise on China Development Bank Corporation’s financial capabilities as well as the Group’s competitive edges in industrial investment and management expertise. The agreement aims to establish a long-term and stable strategic partnership for mutual benefits and development.

Pursuant to the agreement, China Development Bank Corporation will provide financial support to Golden Concord Group’s domestic and overseas investment projects in foreign currency and Renminbi in the next 5 years in order to fulfill the capital requirements of Golden Concord Group for its future development. GCL-Poly Energy Holdings Ltd. (“GCL-Poly”) (Stock code: HK.3800) is the major support target which engages in businesses including solar photovoltaic materials, green energy, solar farm system integration and overseas solar farms. The financing support is to ensure GCL-Poly will undergo further technology innovation, improvement of production capacity and reduction of production costs, thus ultimately downsizing the costs of the global solar power generation industry. The agreement also involves other green energy industry projects of Golden Concord Group in relation to energy saving and storage."

http://www.4-traders.com/GCL-POLY-EN...Corp-13650787/