China Export-Import Bank (China Exim Bank), one of China's policy-oriented banks, will extend loans of RMB 160 billion to China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Corp (CSIC), the two largest shipbuilding enterprises in China, said Chu Xinqiang, the vice president of the bank.
CSIC will obtain a loan of RMB 100 billion, and the rest RMB 60 billion will go to CSSC. The loans are part of China Exim Bank's effort to help China's shipping industry weather the financial crisis and realize a resurgence.
As the main loan provider of the country's shipbuilding industry, China Exim Bank had extended RMB 102.46 billion and US$7.45 billion in loans as of the end of 2008.
Chu said the bank would continue work on offering new loans for shipbuilding research, ship renting, shipbuilding enterprise acquisitions.
CSIC will obtain a loan of RMB 100 billion, and the rest RMB 60 billion will go to CSSC. The loans are part of China Exim Bank's effort to help China's shipping industry weather the financial crisis and realize a resurgence.
As the main loan provider of the country's shipbuilding industry, China Exim Bank had extended RMB 102.46 billion and US$7.45 billion in loans as of the end of 2008.
Chu said the bank would continue work on offering new loans for shipbuilding research, ship renting, shipbuilding enterprise acquisitions.