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Chinese Firms Encouraged to Invest Overseas: Bank
The Import and Export Bank of China will continue to encourage Chinese enterprises to invest overseas through issuing export loans, a bank official said Sunday in Wuhan.
Mu Linlin, vice general manager of the Business Development Department with the bank made the remark at a Machinery and Electrical Equipment Expo.
The bank will support overseas investment by Chinese enterprises, including setting up processing businesses with imported materials or parts and direct investment, he said.
The Bank has already provided two billion yuan in export loans to such Chinese companies as Haier Group Co. for investment overseas since late last year.
Experts say the Chinese investment in Latin America, Africa and north America will create jobs for those areas, provide cheaper products for local consumers and help export Chinese-made machinery and electrical equipment.
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