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Tianfu Minyoun has secured a credit line of 30 billion yuan ($4.7 billion) from Sichuan Tianfu Bank, which would be used as loans to hotel owners for construction and renovation projects under the agreement.
Tianfu Minyoun has also teamed up with Road King Investment Group to establish a 10 billion yuan industrial fund to support the deal.
"With our combined efforts, we look forward to creating distinguished guest experiences that exceed expectations in the dynamic and highly competitive China market," Udell said.
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