The Export-Import Bank of China, a major policy bank, and Sinosure, the nation’s official export credit agency, will intensify their overseas ship finance activity.
A Sinosure official says the credit agency has eased the conditions under which it will deal with foreign banks in ship finance deals. The agency provides insurance backing for loans to shipowners in partnership with a bank or banks.
It now will accept a tie-up with any foreign institution with $10bn or more in assets and a proven good track record with export credit agencies.
Meanwhile, Li Ruogu, president of China Exim Bank, said last week that the bank will expand into a large multinational institution over the next five years.