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Bank of Ningbo to raise up to 20B yuan via bonds

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Bank of Ningbo to raise up to 20B yuan via bonds

Bank of Ningbo Co. Ltd. obtained approval from the People's Bank of China to issue up to 20 billion yuan of financial bonds.

Funds raised from the bond issuance will be used to extend loans to small and micro-sized enterprises.

As of May 21, US$1 was equivalent to 6.90 Chinese yuan.