China EximBank’s foreign trade lending jumps 13.27% in H1-24

The Export–Import Bank of China (China EximBank) has significantly boosted its lending to the foreign trade sector in the first half of 2024, with loans surging 13.27 per cent year-on-year to surpass one trillion yuan ($140.22 billion).

The policy bank has played a key role in strengthening the basis of foreign trade and promoting new growth opportunities by increasing credit support for intermediate goods, services, and digital trade.

By end of June, the bank said its loans to the foreign trade sector had grown by 12.42 per cent from the previous year to 3.34 trillion yuan.

Furthermore, the bank has been intensifying its financial support for the manufacturing industry’s high-quality development. It has provided specialised loan products to bolster technological innovation, research and development, and new infrastructure construction within the manufacturing sector.

Outstanding loans to this sector had exceeded two trillion yuan by June, with an additional 410 billion yuan in loans disbursed during the first half of 2024.

As a state-owned policy bank, China EximBank plays a crucial role in supporting the country’s foreign trade, investment, and international economic co-operation.

Attribution: Xinhua