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China Electronics Group secures major funding deal
Jon Grevatt, Bangkok - IHS Jane's Defence Weekly
05 December 2016
China Electronics Technology Group Corporation (CETC) - the country's fastest growing defence group - has signed an agreement with the China Development Bank to secure funding worth up to CNY100 billion (USD14.45 billion) over the next five years.
Announcing the accord on 2 December, China's State Administration for Science, Technology, and Industry for National Defense (SASTIND) said the financial agreement would benefit CETC's "civil and military industries" with funding available over China's 13th Five Year Plan (2016-2020).
SASTIND said the funding would support a wide range of activities undertaken by CETC, which operates 58 subsidiaries across China - including 15 defence laboratories - and employs more than 140,000 people.
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(132 of 454 words)
Jon Grevatt, Bangkok - IHS Jane's Defence Weekly
05 December 2016
China Electronics Technology Group Corporation (CETC) - the country's fastest growing defence group - has signed an agreement with the China Development Bank to secure funding worth up to CNY100 billion (USD14.45 billion) over the next five years.
Announcing the accord on 2 December, China's State Administration for Science, Technology, and Industry for National Defense (SASTIND) said the financial agreement would benefit CETC's "civil and military industries" with funding available over China's 13th Five Year Plan (2016-2020).
SASTIND said the funding would support a wide range of activities undertaken by CETC, which operates 58 subsidiaries across China - including 15 defence laboratories - and employs more than 140,000 people.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options ihs.com/contact
To read the full article, Client Login
(132 of 454 words)
