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China's Eximbank to Set Up New Branches
The China Export and Import Bank (Eximbank) will set up more branches and representative offices both at home and overseas to cater to its business demand, according to a spokesman for Eximbank.
The spokesman said the bank plans to set up five to six new regional branches, three to four new domestic representative offices and about the same number of overseas representative offices to handle the settlement in both local and foreign currencies and to offer better services to its corporate clients.
The Eximbank is China's State policy bank established to support the country's overseas-oriented economy. Since its opening seven years ago, the bank has provided loans of 144.15 billion yuan (about 18 billion US dollars), secured export credit insurance of 3.464 billion yuan, and provided an overseas-oriented guarantee of 2.585 billion US dollars.
The spokesman said that during the 10th Five-Year Plan (2001- 2005), Eximbank will further promote its business development and make efforts to achieve an average growth of 15-20 percent in all of its businesses.
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