The Agricultural Development Bank of China is providing a credit line of 7 billion yuan, or $1.12 billion, to support the construction of a marine industrial park.
A management committee preparatory group from the Fujian-Taiwan (Fuzhou) Blue Economic Industrial Park and the Fujian provincial branch of the Agricultural Development Bank of China signed a cooperation framework agreement on Thursday, according to China Daily.
Construction began in September. Located in Xinghua Bay, Fuqing city, the marine industrial park will cover 60 square kilometers and be supported by the Jiangjing Overseas-Chinese Farm. It will be positioned as a provincial high-tech industrial park, a leader in the marine economy and a west-Straits marine industry research-and-development transformation base.
China Daily said the cooperation will accelerate investment and financing system innovations and infrastructure construction in the industrial park, ushering in a new era of cooperation among government, banks and enterprises.