CHINA Recycling Energy Corp announced that its wholly owned subsidiary, Xi'an TCH Energy Technology Co., Ltd. (Xi'an TCH), has obtained an energy saving and emission reduction loan with Industrial Bank Co., Ltd., Xi'an Branch (the Lender), whereby the Lender agrees to loan RMB130,000,000 (approximately USD20,312,500) to Xi'an TCH for a term of 48 months (16 quarters) from the first take-down of the loan. The first nine months (three quarters) of the loan will be a grace period where repayment is not requirement. Xi'an TCH will start to make repayment on the 28th day of the last month of each quarter after the grace period and each payment will include principal in no less than RMB 10,000,000 (approximately USD1,562,500). The loan agreement has a floating interest rate that resets each quarter at 115% of the national base interest rate for the same term and same level loan per annum. The present national base interest rate -- People's Bank of China (PBOC) rate is 7.05% and 115% of that rate will be 8.1075% per annum. These funds will be deployed by CREG to further the construction of a 23 MW waste-to-energy system for its customer Shanxi Datong Coal Group.