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Small-loans firm opens in Harbin with focus on Sino-Russian trade
Updated : 2013-03-21
By ( chinadaily.com.cn )
The first small-loans company inHeilongjiangprovince aimed at supporting Sino-Russian trade opened inHarbin, the provincial capital, on Wednesday.
Harbin Longtou Small-loan Co Ltd, with registered capital of 200 million yuan ($32 million), will mainly handle small loans, bills discounting and asset transfer.
Local authorities expect the move to ease tension over funding in small- and medium-sized enterprises running Russian-related business, and breathe new life into the province’s cooperation withRussia.
Heilongjianghas 18 frontier ports on the Russian border.
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