Neusoft Nabs USD605 Million Credit From China Development Bank
Dou Shicong
/SOURCE : Yicai
Neusoft Nabs USD605 Million Credit From China Development Bank

(Yicai Global) July 10 -- Software supplier Neusoft has recently struck a loan agreement with China Development Bank (CDB), per which the latter will grant a CNY4 billion (USD605 million) line of credit to Neusoft and its units. CDB will also provide long-term stable financial support and comprehensive financial services.

The funds for Liaoning province, Northeast China-based Neusoft will largely go to research and development investment in smart healthcare, software research and development and technology platforms, as the international market for high-end medical imaging equipment will further expand, especially in the innovation of sales and service models for countries along the route of the Belt and Road initiative, China Securities Journal reported yesterday.

On software R&D and technology platforms, support will go to Neusoft's development of the next-generation intelligent automobile software platforms and chips, as well as the development and mass production of key technologies for next-generation new energy and driverless vehicles. CDB will also deliver other policy-based financial services to Neusoft.

"Neusoft will keep increasing its future investment in high-end medical equipment, software and information services, automotive electronics, healthcare and big data based on software and information technology, and redefine social, business and lifestyle models by software technologies, thereby achieving rapid development of the firm," said a company staffer.

Founded in 1991, Neusoft was the first software company to list in China. Its information technology products cover telecommunications, energy, finance, manufacturing, healthcare, transport, media, and environmental protection, among other fields.

It employs nearly 20,000 staff, and has set up 10 software research and development bases in China, and subsidiaries in the US, Japan, Europe, the Middle East and South America.

Editor: Ben Armour

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Keywords: Neusoft Corp. , China Development Bank , Intelligent Hospital , Automotive Electronics