The finance company is the Shenzhen Special Economic Zone DevelopmentFinance Co (SSEZDFC), which is licensed by China's central bank to raisefunds for companies owned by the Shenzhen Special Economic Zone Development(Group) Co. SSEZDFC acts much like China's trust companies known as theInternational Trust and Investment Corporations (ITICs), except it can onlylend to companies within the group.

The Shenzhen Special Economic Zone Development (Group) Co is owned by theShenzhen city government via the Shenzhen Municipal Investment ManagementCo, a unit which holds state-owned assets on behalf of Shenzhen city.

SSEZDFC has US$40 million in foreign debt due to eight banks -- BanqueNationale de Paris, Dao Heng Bank, Dresdner Bank, Guangdong Provincial Bank,Nanyang Commercial Bank, SG, Standard Chartered Bank and Sumitomo Bank -- asource close to the banks said.