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Lin Zuoming, AVIC’s general manager, said that global financial crisis started in 2008 should be considered as a challenge to the whole aviation industry. He also emphasized that as the crisis had come and a lot of overseas banks cut off their investments in some airplane engineering and producing bureaus, AVIC now have a great opportunity to develop. The state-owned AVIC was created in November by the merger of AVIC I (China Aviation Industry Corp. I) and AVIC II (China Aviation Industry Corp. II). The merger was intended to boost the organization's internal innovative capacity and optimize the use of resources to sharpen its competitive edge internationally. .jpg)
Aviation Industry Corp. of
The Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB) and China CITIC Bank agreed to lend 30 billion yuan each. The other banks are Bank of Communications, Shanghai Pudong Development Bank (SPD Bank), China Everbright Bank, China Merchants Bank (CMB), Bank of Beijing, China Minsheng Banking and Industrial Bank.
