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Yunnan Branch of Chinese Export-Import Bank opens in Kunming

Source:   Time:

The Yunnan Branch of Export-Import Bank of China opens in Kunming was opened in Kunming yesterday (October 11). It is the 15th branch of the bank in China and 4th in western China.

The Strategic Cooperation Agreement was concluded on opening ceremony. Up to the end of August 2010, the bank has approved a total loan of RMB 17.142 billion yuan to Yunnan enterprises.

The Export-Import Bank of China

The Export-Import Bank of China (China Eximbank) was established in 1994. Fully owned by the Chinese government and under the direct leadership of the State Council, China Eximbank is a government policy bank enjoying the same international credit ratings as China's sovereign ratings. Headquartered in Beijing, the Bank now has over ten domestic business branches and representative offices as well as three overseas representative offices in South Africa (Representative Office for Southern & Eastern Africa), Paris and St. Petersburg. In terms of correspondent network, it has set up correspondent banking relations with more than 300 banks overseas.

As an important force in promoting foreign trade and economy and a significant component of the financial system, China Eximbank has been acting as a key channel of policy financing for both Chinese import-and- export of mechanic and electronic products, complete sets of equipment, and high- and new-tech products and undertaking of offshore construction contracts and overseas investment projects by Chinese companies. Meanwhile, the Bank is a major onlending bank of foreign government loans and the only operating bank for Chinese Government Concessional Loan. By doing so, the Bank is playing a bigger role in promoting the development of China's open and export-oriented economy.

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