CHINA, HONG KONG FIRMS SIGNS LOAN AGREEMENT
<China Sports Service Corp> of China and
<Seylla Corp> of Hong Kong signed an agreement to borrow five
billion yen from an international syndicate of banks led by the
Bank of China, the New China News Agency said.
    It said the two firms will use the money to construct the
Olympic Hotel, with 14 storeys and 380 rooms, near Peking's
largest indoor stadium, to cater for participants at
international competitions and tourists.
    Construction of the hotel is under way and due to be
completed by June 1988, the agency added but gave no more
details.
 REUTER
