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BIZCHINA> Top Biz News
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China Eximbank loads up support for shipbuilders
By Tong Hao (chinadaily.com.cn)
Updated: 2009-04-08 13:47 The Export-Import Bank of China, a policy bank led by the State Council, granted shipbuilding-related loans totaling 102.46 billion yuan ($14.99 billion) and $7.45 billion through the end of 2008.
Not long ago, the bank granted credit of 100 billion yuan and 60 billion yuan respectively to China State Shipbuilding Corp and China Shipbuilding Industry Corp, the country's two largest shipbuilders, to help them tackle the deteriorating shipbuilding industry worldwide. Zhu said the bank plans to offer new services to fund Chinese shipyards in research and development and mergers and acquisitions. The bank is also working on detailed clauses of financing policy as part of the stimulus package for the shipbuilding industry. (For more biz stories, please visit Industries)
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