China Merchants Bank's trade finance rose 38.82 percent to US$2.71 billion in the first quarter, the bank said yesterday.

CMB's foreign exchange settlement topped US$19.5 billion in the first quarter, a year-on-year growth of 48.64 percent.

The bank yesterday said it integrated its trade finance sector by launching GoFortune Trade Finance services. The services offers eight types of services including factoring, logistics finance and hedging.

(Shanghai Daily June 26, 2008)