(Yicai Global) Sept. 27 -- The Jiangsu provincial office of the Bank of Communications Co. [SHA:601328;HKG:3328] has agreed to extend a CNY5 billion (USD754 million) intentional credit line to Nanjing High Accurate Drive Equipment Manufacturing Group Co. (NGC), a subsidiary of China High-Speed Transmission Equipment Group Co., to support its daily operations, project construction and other business functions.

NGC will recommend that its subsidiaries and upstream and downstream enterprises use financial products and services provided by the Bank of Communications, while the bank will allow the company full access to comprehensive, convenient and preferential financial services.

NGC, established in 1969 and headquartered in Nanjing, China, has three major businesses related to wheel gears, machine tools, and LEDs. The firm has grown its presence at home and abroad and is China's leading manufacturer of wind power transmission equipment.