Bank of Shanghai Pudong Development grants 20 billion yuan comprehensive credit limit to China Mobile

Opinion Net News: July 29, Shanghai Pudong Development Bank Co., Ltd. released an announcement, announcing a related transaction with China Mobile Communication Group Co., Ltd.

Bank of Shanghai Pudong Development plans to approve a comprehensive credit limit of 20 billion yuan for China Mobile Group, with a validity period of one year.

This transaction constitutes a related transaction because China Mobile Group is a related party of Bank of Shanghai Pudong Development.

China Mobile Communication Group Guangdong Co., Ltd. serves as the main shareholder of Bank of Shanghai Pudong Development, and China Mobile Group is the actual controller of Guangdong Co., Ltd.

According to the announcement, this related transaction does not constitute a significant asset restructuring, and has already been reviewed and approved by the Board of Directors' Risk Management and Related Transaction Control Committee, independent directors' meeting, and ultimately by the company's board of directors without needing to submit it for shareholder review.

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