Chongqing Port (SHA:600279) provided a guarantee for its subsidiary, Chongqing Guoyuan Port, for a 56.6 million yuan loan applied at China Construction Bank (HKG:0939, SHA:601939), according to a Shanghai Stock Exchange filing on Saturday.
The guaranteed amount is within the scope of the amount approved by the board of directors for the year. About 1.50 billion yuan was approved for Chongqing Guoyuan Port in April.
The company's shares dropped less than 8% in recent trade.
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