The report to the 20th National Congress of the Communist Party of China stresses building a high-standard socialist market economy and promoting opening-up. CGTN's Gao Ang sat down with Ren Shengjun, President of the Export-Import Bank of China, to discuss its role in supporting the real economy and high-quality growth of foreign trade.
GAO ANG CGTN Reporter "The report to the 20th CPC National Congress points out that we must continue to focus on the real economy in pursuing economic growth. What measures has the Export-Import Bank of China taken to support the real economy, and what are the plans for the next step?"
REN SHENGJUN President, Export-Import Bank of China "Since the start of this year, our bank has continued to increase support for the real economy and helped stabilize the broader economic market facing unexpected factors. By the end of September, the outstanding balance of RMB loans had exceeded four trillion yuan, and that of foreign trade industry loans had reached 2.8 trillion yuan, an increase of 438 billion yuan from the beginning of the year.
"We have introduced policies and measures in a timely manner to stabilize the economy. We have further expanded the credit supply, increasing support for key areas and major projects such as foreign trade and the Belt and Road.
"We have also formulated special policies to support major regions like the Yangtze River Delta and have made good use of policy development financial tools. As of October 12, the bank has invested 68.4 billion yuan in 114 major projects, driving a total project investment of nearly one trillion yuan. We have also increased support for the manufacturing industry. For the next step, the bank will continue to focus on the real economy and make contributions to promoting Chinese modernization."
GAO ANG CGTN Reporter "Foreign trade is an important driving force for economic growth. What has the Export-Import Bank of China done to promote the high-quality development of foreign trade?"
REN SHENGJUN President, Export-Import Bank of China "We have continued to expand credit and loans for foreign trade. The average annual issuance of foreign trade industry loans in the past three years has exceeded one trillion yuan. We have fully supported the construction of trade channels, such as the China-Laos Railway and the Hungary-Serbia Railway. We have also promoted the transformation and upgrading of the manufacturing industry, and supported the export of high-end ships and important energy facilities. We also focus on boosting international economic and trade cooperation, for example, among Belt and Road countries. The bank has actively implemented green development policies, supporting green equipment, technology, standards, and services going global. Besides, we have cooperated with international financial institutions to develop and implement green credit policies that are in line with international standards."