Eximbank Emphasizes Financial Policies Supporting Export 　　China should beef up its financial policies to optimize its exports scenario for the year, senior officials and bankers said. 　　Yang Zilin, president of the Export-Import Bank of China (Eximbank), the country's policy-related bank specializing in financing exports of electronics and machinery, said Eximbank intends to make unremitting efforts this year to promote the country's exports. 　　"We will expand export sellers' credit as well as buyers' credit to underpin exports of machinery and electronics while ensuring quality of assets and insisting that financial risks be minimized," he said at a high-profile conference on Wednesday for the bank's fifth anniversary. 　　Eximbank has set its target for export sellers' credit this year at 14 billion yuan (US$1.69 billion). 　　Officials from ministries and the central bank praised Eximbank's policy-oriented role in financing the country's exports and its policies on foreign government loans and concessional loans. They hope the bank will continue its efforts to relieve the formidable pressures put on the country's exports. 　　Eximbank had "played a pivotal role in the rise of machinery and electronics exports." 　　Eximbank will need to make full use of all policy financing tools, create new loan products and "extend help to smaller firms, private enterprises and even loss-making enterprises in the machinery and electronics sectors that can still be profitable," he said. 　　By the end of May this year, Eximbank had approved export sellers' credit totaling 76.9 billion yuan (US$9.2 billion) and US$130 million. It approved US$100 million in export buyer's credit during the same period, bank statistics indicate. 　　Yang said the proportion of buyers' credit in its lending plan will be raised to meet the increasing demand. 　　Besides granting more loans to support exports of machinery and electronics, Eximbank will also expand other services like export credit insurance and guarantees "to broaden funding channels for exports" and meet this year's objectives, he said. Economicnews 1999-07-14 Page2 Full Story in Chinese