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The Export-Import Bank of China supports domestic auto brands
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14:51, December 09, 2008

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The Export-Import Bank of China signed a strategic cooperation agreement with the Chery Automobile Company in Beijing on December 7. The agreement, worth 10 billion yuan, will primarily be used to support Chery Automobile in implementing its strategy of “going global” at a higher level and broader scope.

The agreement outlines cooperation in several fields including seller's credit on export, import of technologies and equipment, international payments and the trade financing business.

Li Ruogu, president of the Export-Import Bank of China, said the cooperation is needed by both parties in order to achieve their development. The Export-Import Bank of China will continue to bring its advantages in financial policies into full play and offer better and more effective financial services for the development of China’s domestic auto brands.

By People's Daily Online

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