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China Financial Services Unit Grants 12 Million Yuan Loan

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China Financial Services (HKG:0605) unit CFSH Urban Development (Beijing) Small Loan agreed to extend a 12 million yuan loan to Jiangxing Era (Beijing) Cultural Media.

The loan has an interest rate of 18% per annum and will fall due 12 months from drawdown, according to a Thursday Hong Kong bourse filing.

A first legal charge/mortgage related to a 17.4 million yuan commercial property in Beijing was pledged as security against the loans, as well as personal guarantees by two beneficial owners of the borrower.

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