The Export-Import Bank of China (China Eximbank) will try to allow domestic exporters better access to the competitive financing needed to get their products overseas, member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and the bank president, Li Ruogu told China.org.cn after the panel discussion concluded on Wednesday afternoon.
Established in 1994 and solely owned by the central government, the China Eximbank is a government policy bank under the direct leadership of the State Council.
The bank, as an institution shouldering the responsibility of promoting international trade and economic cooperation, has made active and significant contributions in this regard.
"Our bank has granted favorable loan policies to agricultural sectors and hi-tech companies such as Huawei Technologies, China’s largest telecommunications equipment maker, and suspended loans to companies who pollute," Li said.
In recent years, the bank has increased the pool of funds available to the African countries for various infrastructure projects such as hospitals, schools, highways, bridges and ports. Li asserted that the bank's overseas investments were all above board business activities.
The bank governor said that the bank might diversify regarding business and portfolios while remaining a policy bank. He also warned that China should not quicken its pace to open capital markets to foreign competitors before having fully understood all the possible financial risks, especially those posed by volatile capital.
(China.org.cn by staff reporter He Shan, March 6, 2008)