China Housing & Land Development Inc. (CHLN) said it was granted a RMB 150 million or US$22 million loan from Xinhua Trust Investment Ltd.
The company said that RMB150 million or US$22 million loan matures in February, 2012 and is secured by its assets, and the loan would be used for its further expansion plans in 2010.
Pingji Lu, Chairman of China Housing and Land stated, "The completion of the loan represents a brand new channel for our domestic financing initiatives, which will greatly lower our capital cost, and is an important step in our expansion plans."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.