Trade Finance

ADIB Holdings Limited (ADIB) signed a financing agreement for 75,000 passenger cars with ZHONGQINBAOSHANG Group of Companies, completing a RMB28.9 billion export trade facility. Under the multi-party co-operation agreement, ADIB will supply 500,000 Chinese-made passenger cars of various models (including new energy vehicles) to the Iraqi government's holding company over a five-year period and invest in a 100,000-vehicle production line.