The Export-Import Bank of China (China EximBank) said it has issued over 510 billion yuan (74.18 billion U.S. dollars) of loans to support the country’s foreign trade during the first quarter (Q1) of this year.
The value represented a 33.8 percent increase from the same period last year, the bank said. By the end of March, the bank’s outstanding loans to foreign trade firms came in at 3 trillion yuan, up 18.6 percent year on year.
To keep foreign trade stable this year, the bank said it has facilitated financing for exports to Africa, helped small and micro trade firms improve businesses, and supported imports from members of the Regional Comprehensive Economic Partnership.
The China Eximbank is a state-funded and state-owned policy bank supporting China’s foreign trade, investment, and international economic cooperation.