Shanghai gets $41b loan from Agricultural Bank

Shanghai will receive a 250 billion yuan ($41 billion) loan from Agricultural Bank of China Ltd, to help fund the city's planned Disneyland park and free-trade zone, the South China Morning Post reported on Monday.

The State-owned bank signed an agreement last week to provide the funding, which is equal to about 12.5 percent of the city's GDP last year, the newspaper said, citing unidentified government and banking industry sources familiar with the situation.

The loan from China's third-biggest lender by market value is a sign the central government is relaxing its policy stance to prevent the world's second-biggest economy from slowing further, Zhang Zhiwei, chief China economist at Nomura Holdings Inc in Hong Kong, said on Monday.