More financial support offered to promote imports, exports

Wuxi Municipal Government signed off on an agreement to cooperate with the Jiangsu branch of the Export-import Bank of China on Aug 16, aiming to strengthen financial cooperation for Wuxi's importers and exporters.

Wuxi Mayor Huang Qin expressed his gratitude on advice about financial services and the valuable suggestions made by the Jiangsu branch to Wuxi.

Wang said he hoped the bank could offer more support to balance out supply and demand for financial capital and power the city's open economy.

Zhang Shaohui, president of the Jiangsu branch of the Export-import Bank of China, said about 100 billion yuan ($14.2 billion) had been loaned to Wuxi firms in recent years. Of this, 75 percent had been used to support the city's manufacturing industry. Wuxi's growth in loans the bank has offered ranks first in Jiangsu province, Zhang added.

Over 30 Wuxi enterprises signed an agreement to cooperate with the Jiangsu branch of the Export-import Bank of China as well, including Hodo Group, Envision and Jiangsu Changjiang Electronics Technology Co.

Founded in 1994, the Export-Import Bank of China, headquartered in Beijing, aims to facilitate the foreign trade of Chinese products and promote international economic cooperation.

It now has some 20 branches across China and several offices in Europe and Africa.