China Exim Bank to loan Fujian 350b yuan

BEIJING - The Export-Import Bank of China (China Exim Bank) said Wednesday it had reached a strategic cooperation agreement with Southeast China's Fujian province, pledging to loan it at least 350 billion yuan ($51 billion) during 2017-2021.

The loan will support Fujian on projects covering infrastructure, Fujian-Taiwan economic and trade cooperation, as well as local enterprise expansion overseas.

The money will also support the province in the Belt and Road Initiative, international capacity, equipment manufacturing, tourism, and foreign trade and investment.

Founded in 1994, China Exim Bank is one of the country's three policy banks and works with foreign trade, offshore project contracting and outbound investment.

The bank tends to give priority to projects related to the Belt and Road Initiative, international cooperation on industrial capacity, and equipment manufacturing.

Its lending to foreign trade improvement reached 50 billion yuan in 2016.