Shanxi bank favors firms going global

The Shanxi branch of the Export-Import Bank of China, as a member of Shanxi delegation in the Shanxi Brands Silk Road Tour running from Sept 2 to 10, promoted policy-related financial services in Germany, the Czech Republic and Austria, helping Shanxi companies expand business overseas.

The bank surveyed the industrial structure, market and financial service needs of companies in Europe during the visit, finding that there is great potential for companies from Shanxi to explore the European market.

According to Wu Wanzhong, director of the Shanxi branch, the bank will improve its comprehensive financial services on offer in order to help develop Shanxi province into a more open inland region.

The services will include supporting Shanxi companies in carrying out economic and trade collaboration and project construction in countries along the Belt and Road, starting businesses and contracting projects overseas; favoring traditional energy companies in international energy cooperation; providing companies with international financial information services such as financing solutions and country-specific risk consultation.

The Shanxi branch will next survey the financial landscape of import and export companies and create strategies to support them. It will further help local major import and export companies expand foreign trade while exploring ways to help small and medium-sized enterprises in the import and export sectors by providing lending to small businesses.