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)
