Datang Mobile Gets RMB4.6 billion Loan

Datang Mobile, one of the major developers of China’s home-grown 3G standart, has confirmed receiving RMB4.6 billion from China Development Bank (moreover RMB1.5 billion of this sum is interest-free).

The company claims that the money will be used for Olympic Ga,es 3G network creation. Datang Mobile has been short of money recently having received the total of RMB200 million in support from China’s Ministry of Information and the State Development and Reform Commission since 2003.

The company’s official claimed that Datang Mobile will need at least RMB3 billion this year for research and development.

Datang Mobile (created in Beijing on February 8, 2002) is one of the leading departments of Datang Telecom Technology and Industry Group. The company’s headquarters are situated in Beijing with a number of branches in Shanghai and Xi’an.

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