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First Loan for Overseas Chinese Enterprise
Post Time: 24/02/2019


The Jinhua branch of the Agricultural Bank of China (ABC) dispersed a loan to an overseas Chinese enterprise in order to enable the company to “go global” by exporting domestic products, thus marking the first loan from the China Export & Credit Insurance Corporation (Sinosure) in the Zhejiang province.

A buyer loan for Chinese exports is a preferential loan offered by domestic financial organizations for overseas governments, banks, and enterprises that purchase Chinese products as a way to encourage the exporting of Chinese goods. 

In 2016, Tianmai Investment Holdings Limited, a company based in Jinhua, generated a business strategy to construct a radiator production line in the Kyrgyz Republic, the total investment value of which reached over 40 million dollars. At the start of 2019, the ABC Jinhua branch provided the first loan to Tianmai to support the purchase of domestic products to be used in the Kyrgyz Republic.

The manager of Sinosure said that the innovative loan will promote the transformation and upgrading of overseas investments, and it will also be an advantage as Jinhua’s private companies work to become competitive on the global stage. (By Chen Haoyang, translated by Sun Yin, edited by Xiamara Hohman)

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