China EximBank extends 300 bln yuan of loans to foreign trade sector in Q1

The Export-Import Bank of China (China EximBank) said it has issued 300 billion yuan (about 43.88 billion U.S. dollars) of loans to the country's foreign trade sector during the first quarter of this year, with funds flowing into artificial intelligence, green electricity equipment, new foreign trade business models and related sectors.

Of the total, 40 percent of the new loans was directed toward stabilizing foreign trade entities and key industrial chains, while 35 percent supported direct import and export trade activities.

The bank placed special emphasis on financing the export of artificial intelligence and green electricity products, and the large-scale development of new foreign trade business models including cross-border e-commerce and overseas warehouses.

The China Eximbank is a state-funded and state-owned policy bank dedicated to supporting China's foreign trade, investment and international economic cooperation.