The Industrial and Commercial Bank of China (ICBC) has decided to provide ten billion yuan loans to support China Unicom's construction of code division multiple address (CDMA) construction.
The loans, to be due in five years, will be provided to Unicom Horizon Mobile Telecommunication Co. Ltd, subsidiary of the China Unicom.
China Unicom plans to build a CDMA mobile telecommunication network in more than 200 large and medium-sized cities in the country this year with capacity of 13.3 million users. In 2003, the network will be expanded to serve 50 million users, ranking the world's largest.
China now has more than 100 million mobile telephone users. The figure is expected to reach more than 200 million by 2005.
(People's Daily 06/25/2001)
