Exim Bank of China

Export–Import Bank of China
中国进出口银行
State-owned enterprises
Industry Banking
Founded 1994
Headquarters Beijing, China
Key people
 Li Ruogu (Chairman & President)
Products Financial services
Website www.eximbank.gov.cn

The Export–Import Bank of China (Chexim - China Exim Bank) (simplified Chinese: 中国进出口银行; traditional Chinese: 中國進出口銀行; pinyin: Zhōngguó Jìnchūkǒu Yínháng) is one of three institutional banks in China chartered to implement the state policies in industry, foreign trade, diplomacy, economy, and provide policy financial support so as to promote the export of Chinese products and services. Established in 1994, the bank is subordinated to the State Council.[1]

Mission

The focus of the bank is to promote foreign trade and investment as well as development assistance in concessional funding. It exists within a universe of other Chinese institutions with that mission including China Development Bank and Sinosure but is distinguished by its role as the sole provider of Chinese government concessional loans.[2] Exim is not limited though to concessional funding and commercial operations form the backbone of the bank. Commercial activity includes export credits mainly in the infrastructure fields (roads, power plants, oil and gas pipelines, telecom, and water projects) and investment loans for Chinese businesses to establish overseas in the energy, mining and industrial sectors.[2]

Exim does not publish figures for overseas loans. However, U.S. officials estimate that it finances more than the total export financing of the Group of Seven industrialized nations combined.[3] The Financial Times estimates that in 2009 and 2010, China Eximbank and China Development Bank (CDB) together signed loans of at least $110 billion to other developing country governments and companies, more than the World Bank over a similar period.[4]

Rival export financing institutions that have seen a decline in influence, such as the U.S. Export–Import Bank through Chairman Fred Hochberg, have complained that Exim of China doesn't follow the export financing guidelines promulgated by the OECD and so has an unfair advantage.[3]

Organizational structure

Internal Departments

Business branches

There are a total of 21 branches of the bank.[5]

See also

References

  1. ↑ http://english.eximbank.gov.cn/profile/introduction.jsp
  2. 1 2 Wang, Jian-Ye (October 2007). What Drives China's Growing Role in Africa?. IMF Working Paper.
  3. 1 2 http://online.wsj.com/article/SB10001424052748704515904576076144043327686.html?mod=googlenews_wsj
  4. ↑ http://www.ft.com/cms/s/0/488c60f4-2281-11e0-b6a2-00144feab49a.html#axzz1BNU6V0Xl
  5. ↑ "Business Branches". The Export Import Bank of China.
This article is issued from Wikipedia - version of the 5/22/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.