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China Eximbank accelerates financial innovation and lends Full support to international economic cooperation
Source: | Author:acrobio | Published time: 2006-06-05 | 2060 Views | Share:


2006-01-06 09:13:10
China Eximbank’s 2006 Working Conference was held in Beijing on Jan. 6-7, 2006. 
The year 2005 was the year of significant achievements in reform, innovation and business development for China Eximbank, which experienced rapid and healthy development. Approvals of assorted credits issued in 2005 amounted to RMB 158.6 billion with actual loan disbursement adding up to RMB 118.3 billion, up by 73% and 71% respectively over the year 2004. The year-end outstanding balance of credits on the balance sheet stood at RMB 176 billion with the outstanding of foreign government loans off the balance sheet totaling USD 16.8 billion (about RMB 135.6 billion). While maintaining a fast pace in its business operations, the Bank further improved the quality of credit assets through intensified management in safeguarding and mitigating financial risks. By the end of 2005, the ratio of non-performing loans on the balance sheet was 4.91%, marking the seventh “double fall” on an annual basis for both absolute amount of bad debts and the percentage in the organizational portfolio. 
   At the conference, Mr. Li Ruogu, Chairman & President of the Bank emphasized that the present domestic and international situation not only provided good opportunities and spacious room for development for China Eximbank, but also set higher standards that all the staff of the Bank should understand the role and the future development direction of the Bank from a strategic point of view, strengthen sense of responsibility, pressure and mission, work hard and blaze new trails so as not to fail the trust of our Party and nation. 
Mr. Li Ruogu pointed out that China Eximbank should make best efforts to fully implement the guidelines of the Fifth Plenary Session of the 16th CPC Central Committee and the Central Economic Working Conference, to conduct operation with scientific view of development, to accelerate the pace for restructuring and to push financial innovation. Of special importance is the implementation of the Five-point proposal to help developing countries by providing USD 10 billion preferential credits within 3 years, put forward by President Hu Jintao at the UN summit celebrating its 60th anniversary, and the realization of the commitment made by Premier Wen Jiabao at the ASEAN summit to add USD 5 billion preferential credits to ASEAN countries as well as the implementation of the USD 9 hundred million preferential export buyer’s credit for other SCO member states. The Bank shall further explore new financing modes to support the supply of domestic important strategic resources; continue to lend support to the export of products with proprietary intellectual property rights and proprietary brands; plan carefully and do well in import credit business, support joint ventures by Hong Kong, Macao & Taiwan and finance the export and import of agricultural products and projects of agricultural foreign cooperation While promoting its business operations, the Bank shall strengthen the building of the internal control system, improve risk-prevention mechanism and maintain a healthy and sustainable development of policy financial businesses so as to make new contributions to a balanced foreign trade increase for china, to a fast and favorable growth of Chinese economy and to the implementation of the mutually beneficial and win-win opening strategy.


 





Extracted from: http://english.eximbank.gov.cn

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