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Eximbank Helps Fund Exports
The Export-Import Bank of China approved 12.8 billion yuan worth of export seller's loans in the first half of this year,, a surge of 102 percent from a year ago.
Latest statistics from the bank show that the other arm of its export credit, export buyer's loans, also made major progress. A total of 111 million US dollars was lent in the period and another three loan agreements are close to being signed.
"The rapid and health growth of our export financing businesses has supported greatly the fast growth in exporting machiery and electronic products, as well as high-tech commodities," Yang Zilin, president of the bank, was quoted as saying in today's China Daily.
Strict implementation of the industrial, foreign trade and financial policies, together with improved services, has contributed to the steady growth of the bank's major businesses, said Yang.
In the January-June period, the bank also provided 12 export credit insurance letters worth 950 million US dollars for exporters.
As a whole, the bank financed the export of machinery and electronic products, other equipment and high-tech products worth 6.4 billion US dollars in the period.
Yang noted that the bank would help develop new growth areas and become more flexible with its financing tools in the latter half of the year to ensure reaching the target of 30 billion yuan of new lending to export sellers for the whole year.
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