The Export-Import Bank of China has attended the China International Import Expo for five consecutive years. CGTN’s Gao Ang sat down with Ren Shengjun, President of the Export-Import Bank of China, to discuss the bank's support for the expo and high-standard opening-up.
GAO ANG CGTN Reporter "This is the fifth year of the China International Import Expo. It’s a major event to promote high-standard opening-up and share opportunities with the world. To this aim, what is the role of China’s financial sector? How has it supported the real economy while fostering the high-quality development of foreign trade? For more, I talked to Mr. Ren Shengjun, President of the Export-Import Bank of China."
GAO ANG CGTN Reporter" President Ren Shengjun, thank you for talking to CGTN. Since 2018, the Export-Import Bank of China has participated in the China International Import Expo every year. What has the bank achieved during the past four years?"
REN SHENGJUN, President of the Export-Import Bank of China "We have deepened cooperation among banks, government and enterprises. Our bank has reached agreements with over 100 domestic and foreign enterprises and a number of local governments to support import financing, meeting the financing needs of relevant enterprises exceeding 100 billion yuan.
"We have also increased support for imports. For the previous four sessions of expo, our financial service solutions have driven a cumulative foreign trade volume of over $280 billion US dollars, involving 44 countries and regions including Singapore, Japan, Qatar, and Germany.
"Also, we have improved the financial service experience, providing personalized financial products and services to enterprises of the whole import trade chain, and helping the global economy recover steadily and healthily.
"The fifth CIIE is the first major international expo held in China since the 20th CPC National Congress. To fully support the event, China EximBank will further play the role as the main channel of policy-based finance in the foreign trade field and contribute more to promoting high-standard opening-up. "
GAO ANG CGTN Reporter "What are some highlights of the bank’s participation at this year’s CIIE, in terms of boosting global trade and that of the RCEP member countries?"
REN SHENGJUN, President of the Export-Import Bank of China "The bank regards supporting the CIIE as a major opportunity to highlight the advantages of its main business, strengthen its mission, and facilitate high-standard opening up.
"We have tailored special financial service plans for the CIIE for five consecutive years.
"This year, in light of the current new situation of foreign trade and the diversified financial needs of the CIIE, the bank has launched a special financial service plan to provide financial services such as credit, trade finance and capital for domestic importers, overseas exporters and exhibitors.
"RCEP is the free trade agreement with the most development potential in the world. The bank focuses on key areas such as foreign trade and manufacturing. At this year’s expo, the bank has set a special quota of 200 billion yuan to support imports from RCEP member countries, demonstrating its mission of promoting high-standard opening up.
"In the next step, the bank will continue to take advantage of the spillover effect of the CIIE and optimize the allocation of credit resources. It will serve enterprises to develop diversified markets and continue to promote the balanced development of foreign trade as well."