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Eximbank Issues Financial Bonds
The China Export and Import Bank (Eximbank) successfully issued 7.5 billion yuan (about 962 million US dollars) in one-year financial bonds Wednesday through public bidding.
This is the bank's second issue of financial bonds this year.
A spokesman for the Eximbank said that 40 underwriters participated in the bidding, with effective bids totaling 26.495 billion yuan, 3.53 times the issued volume, with a winning interest rate of 2.45 percent.
In the first quarter of this year, China's export continued its fast-growing momentum, and the Eximbank's credit input increased accordingly. In the first three months, the bank's export sellers' credit accumulated to 5.73 billion yuan, increasing 3.08 billion yuan over the same period last year.
The spokesman said that the Eximbank will continue to increase its credit support to export enterprises, in a bid to further promote the competitive edge of China's machinery, electronics products, complete sets of equipment and high-tech products in the international market.
With the constant expansion of credit businesses, the Eximbank' s bond issue will also have noticeable increases. It is estimated that in 2001 the bank's total financial bond issue will exceed 45 billion yuan, doubling last year's total.
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