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China's policy bank to ramp up support for manufacturing and new infrastructure construction

July 24, 2020


Abstract : The Export-Import Bank of China (China Eximbank) will continue to step up financing support for the country's critical areas such as manufacturing and new infrastructure in an effort to help the country improve key technological and core manufacturing levels, the Xinhua-run Shanghai Securities News quoted Wu Fulin, president of the bank, as saying on Thursday.

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BEIJING, July 24 (Xinhua) -- The Export-Import Bank of China (China Eximbank) will continue to step up financing support for the country's critical areas such as manufacturing and new infrastructure in an effort to help the country improve key technological and core manufacturing levels, the Xinhua-run Shanghai Securities News quoted Wu Fulin, president of the bank, as saying on Thursday.

According to the report, the bank has also implemented targeted measures and policies to constantly strengthen financing support for the country's foreign trade.

In the first half of this year, the bank saw its balance of domestic and foreign currency loans stand at 4.14 trillion yuan, up 16.8 percent year on year, of which both the balance of RMB loans and new RMB loans hit new highs.

In a bid to help small and micro-sized enterprises, the lender has adopted a slew of measures to help them reduce financing costs to tide over difficulties following the outbreak of COVID-19.

By the end of June this year, the bank's outstanding re-lending funds to small and micro-sized enterprises increased by 43.2 billion yuan, a growth rate of nearly 82 percent.

(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: China Exim Bank

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