China Construction Bank, one of the country's big four State-owned commercial banks, said yesterday it would put an emphasis on development of its overseas business over the next several years.
The bank obtained US$22.5 billion in government subsidies at the end of last year to increase its capital adequacy.
China Construction Bank President Zhang Enzhao said: "Our goal is to establish a modern commercial bank with good corporate governance and sound performance which will make us a competitive heavyweight in the global financial market.''
Last year, the bank signed US$200 million worth of export buyers credit business contracts with the Foreign Trade Bank of Russia.
The bank also signed a contract with the Federal Reserve Bank of Russia to deal with border trade settlements.
It also signed an all-around business co-operation contract with China Export & Credit Insurance Co to help more Chinese companies expand their overseas business.
