China

Keen to tap into another source of revenue and profit amid a tight monetary policy, banks in Shanghai are wooing small and medium-size companies at an exposition.

Bank of Shanghai expects to expand its loans to small- and medium-sized enterprises (SMEs) 67% year-on-year in 2008, said He Qing, assistant of the lender's president.

The country's SMEs will be guaranteed financial support despite the government's tightened monetary policy this year.

Overseas banks are scenting new profits by launching new services aimed at SMEs with cross-border business.

Nearly 90 per cent of Chinese domestic experts and market practitioners believe that the country will see a drop in exports this year.

China started a temporary quota policy on the export of wheat, corn and rice powder on Tuesday.

China is to establish a system to publicize the credit information of export businesses.

Industrial and Commercial Bank of China has extended yuan2.58tn of loans to SMEs, yuan585.7bn, which directly go to small enterprises.

Bank of China (BoC), the leading financial institution in China, has launched new services based on SWIFTNet Trade Services Utility.

HSBC has opened its first rural bank in Suizhou, Hubei Province.