Member News
China Development Bank boosts financial support for foreign trade
China
Development Bank has rolled out a robust set of measures to provide strong
financial support for businesses in the country's foreign trade sector this
year.
The
bank has been leveraging a wide array of financing instruments, including
project loans, syndicated loans, working capital loans, corporate financing,
on-lending and trade financing, to channel more credit resources into the
foreign trade domain, CDB said in a news release on Friday.
In
particular, the bank has formulated specific measures to utilize on-lending
loans and work closely with city commercial banks, to provide targeted
financial support to small and medium-sized foreign trade firms.
As
of March 19, CDB has disbursed 14.25 billion yuan ($1.97 billion) in on-lending
loans for foreign trade stabilization to provinces such as Jiangsu, Guangdong
and Shandong, helping foreign trade enterprises reduce their financing costs
and reinvigorate their development momentum, the bank said.
Meanwhile,
CDB has set up a dedicated 35-billion-yuan quota to provide direct lending
support for the stabilization of foreign trade, according to the bank.