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Export-Import Bank of China Established in 1994 and solely owned by the central government, The Export-Import Bank of China (China Eximbank) is a state policy bank under the direct leadership of the State Council. At present, the Bank has seven business branches, six domestic representative offices and two overseas representative offices. It has established and maintained correspondent relationship with 140 foreign banks worldwide. As an important force in the backup system of foreign trade and economy and a significant component of the financial system, China Eximbank has developed into a key channel of policy financing for both Chinese export of mechanic and electronic products, complete set of equipment, and high- and new-tech products and undertaking of offshore construction contracts and overseas investment projects. Meanwhile, the Bank is also the major onlending bank of foreign government loans and the sole lending bank for Chinese Government Concessional Loan entrusted by the Chinese Government. At the end of 2006, the outstanding loans of the balance sheet stood at RMB 231.7 billion, while the outstanding of on-lending loans off the balance sheet as extended by foreign governments, stood at US$ 17.6 billion. Total assets of the Bank at year-end read RMB 402.9 billion. China Development Bank China Development Bank (CDB), founded in March 1994, is under the direct jurisdiction of the State Council. At present it has 32 branches and four representative offices across the country. Over the past decade, CDB has issued an accumulated total of 1.6 trillion yuan in loans to more than 4,000 projects involving key fields of infrastructure, and basic and pillar industries. As of the end of 2004, the bank’s credit assets amounted to RMB1378.6 billion. 60% of the new loans of CDB were extended to coal, electricity, oil and transportation areas. Agricultural Development Bank of China Founded in April 1994, The Agricultural Development Bank of China (ADBC) is a state-owned agricultural policy bank under the direct administration of the State Council. Based in Beijing, ADBC has 30 provincial branches and about 2000 sub-branches across China. For a long time, ADBC relies on borrowings from the People’s Bank of China as its source of funds. Since 2005, ADBC has enlarged its sources of funds through money and capital market. The funds of ADBC are mainly used as the working capital of the enterprises specialized in purchasing grain, cotton, edible oil. By the end of June, 2005, the total outstanding loans issued by ADBC amounted to 729.3 billion yuan. |
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