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(28 September 2011)
Glorious Property Holdings Limited (“Glorious Property” or “the Group”, Stock Code: 00845) has been granted a strategic credit of RMB10 billion by China Development Bank (“CDB”) to support the Group’s property development in China. Both parties signed the strategic cooperation agreement in Hefei, China on Sept. 28
.
Pursuant to the agreement, both parties will strengthen cooperation in various areas. Inspired by the concept of “financial department store”, CDB will provide
integrated financial services to the Group, including but not limited to syndicated loans, project loans, working capital loans, onshore and offshore corporate bonds, loans for mergers and acquisitions, etc.

Mr. Cheng Li Xiong, Chief Executive Officer and Executive Director of Glorious Property said in the signing ceremony, “The comprehensive strategic cooperation between our Group and CDB offers opportunity to us in benefiting from the latter’s large, long maturity and stable funding resources and high credit rating, therefore, supporting our Group’s property development business in China. The strong partnership between Glorious Property and CDB recognizes our leading position in the industry and the strong confidence of the China banking community in the Group’s business prospects.”