The Export-Import Bank of China (China Exim Bank) established a branch in Qingdao in East China's Shandong Province on Friday. It is the bank's seventh branch.
Bank president Yang Zilin said the branch would enable the bank to provide more support for the development of the export-oriented economy in Shandong.
As the country's only export-oriented policy bank, China Exim Bank has always given key support to machinery and electronic exports, as well as high and new technology commodities.
By the end of last year, the bank had 104 billion yuan (US$12.5 billion) in outstanding loans, supporting exports of those products valued at US$131.6 billion.
Source: China Daily
