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    Export-Import Bank of China to offer Hainan $15.4b loan over 5 years

    ehainan.gov.cn | Updated: 2021-03-18

    The Export-Import Bank of China and South China's Hainan province recently nailed down a work plan to boost foreign trade in Hainan and advance the construction of Hainan Free Trade Port.

    The Export-Import Bank of China is a State-funded and State-owned policy bank which operates directly under the leadership of the State Council. It is dedicated to supporting foreign trade, investment and international economic cooperation.

    According to the work plan, the two sides will carry out cooperation in key areas such as supporting the construction of the Hainan FTP, boosting foreign trade and foreign investment, supporting the manufacturing industry, and constructing "new infrastructure" in Hainan.

    Based on the leading industries and development priorities of Hainan, the bank will provide Hainan with no less than 100 billion yuan ($15.4 billion) in loan support over the next five years. Of this total, foreign trade industry loans will not be less than 80 billion yuan.

    The signing of the work plan is an important step for both parties in terms of working together to maintain local economic development and overall social stability.

    Next, the two sides will continue to deepen bank-government cooperation to help Hainan FTP become a model of China's opening-up in the new era and a gateway to the Pacific and Indian Oceans, and jointly promote the high-quality development of Hainan's export-oriented economy.