Standard Chartered Bank (China) said yesterday it has signed a global co-operation agreement with the Export-Import Bank of China to support the overseas expansion of Chinese companies.

 

Standard Chartered and China Eximbank will strengthen links by jointly providing financial products and solutions to customers.

 

These will include project finance, disbursement and collection services, trade finance, and financial market products.

 

The two parties will focus on energy and infrastructure projects, as well as trade in products such as mechanics and electronics, high-technology products and those using new technology, and energy and raw materials.

 

The two sides will also cooperate on the exchange of business experience, the provision of staff training programs, and the sharing of emerging market information related to economic, financial, and legal issues.

 

"The Chinese government's 'Going Out' policy creates unique opportunities for Standard Chartered," said Peter Sands, group chief executive of Standard Chartered PLC, in a statement.

 

The bank, which generates two-thirds of its profits in Asia, will leverage its network in Asia, Africa, and the Middle East to tailor solutions for Chinese companies keen to expand in overseas markets.

 

China Eximbank is one of the nation's three major policy banks and focuses on trade.

 

(Shanghai Daily January 30, 2008)