Policy lender the Export and Import Bank of China (Exim Bank) and regional lender Bank of Beijing have entered an agreement to provide greater financial support for small-scale foreign trade enterprises.
Exim Bank and Bank of Beijing recently teamed up to issue the first “micro-and-small foreign trade enterprise joint-risk transfer loan,” which is the first of its type to be made by Exim Bank in the Beijing region.
Exim Bank said it has recently sought to further explore and trial the use of joint-risk transfer loans (风险共担转贷款) to strengthen support for small-and-micro enterprises, and reduce the financing costs of foreign trade companies.
“Use of transfer loans achieves targeted watering of micro-and-small foreign trade enterprises using policy funds, effectively easing the problems of financing being difficult and expensive for micro-and-small enterprises,” said Exim Bank.
“Bank of Beijing, as one of the major banks in the Chinese system, possesses considerable client resources, service networks and settlement advantages.
“Engaging in joint-risk transfer loan operations with Exim Bank further expands the scope of service for micro-and small enterprises, strengthens their risk resistance capability, and reduces the financing costs of micro-and-small enterprises.”