China National Heavy Duty Truck Group Corp (also known as Sinotruk), the country’s largest heavy truck
manufacturer, said on August 3 that it plans to issue RMB 1.7 billion (approx. US$265 million) in short-term bills
with a maturity of 366 days on the inter-bank market on August 9. The company launched the new financing program in
a move to deal with its high debt ratio and its needs for additional funding. Proceeds from the issuance will be
used to replenish the company’s working capital and repay loans.