China Trade Information

China Export and Credit Insurance Company (Sinosure), the country’s only insurer specializing in export credit insurance, reported a 174 percent growth in claims in the previous ten months this year, the company’s top management said yesterday.

The insurer has paid 150 million yuan to enterprises by the end of October, showing the soaring risks for Chinese exporters. Read the rest of this entry »

Bank of China has opened two subsidiaries in Switzerland, becoming the first Chinese banking group to establish a presence in the country, the organization announced Friday.

The bank said in a press release that it has received approval from the Swiss Federal Banking Commission to open the two subsidiaries. Read the rest of this entry »

China Merchants Bank will ensure that 40 percent of its new loans will go to small and medium-sized enterprises next year, the bank said yesterdaay.

The bank said it will make every effort to grow the SME loan business despite the global financial crisis.

“Small players are hard hit amid the impact from the global financial crisis and banks are more cautious about granting loans to them on concerns of risk exposure,” the Shenzhen-based lender said. “However, after fully analyzing market conditions and government policies, our bank is sticking to its strategy to develop the SME sector as one of our key businesses.” Read the rest of this entry »

The Bank of China, one of the four state-owned commercial banks in China, will start its business in Brazil in March 2009, the bank’s general manager ZhangJianhua said Thursday.

The decision to operate in Brazil was made last year and the authorization was given by Brazil’s President Luiz Inacio Lula da Silva earlier this month. Read the rest of this entry »

Not content to just sit idly by during the current sluggish stock market environment, China Everbright Bank has allied with other partners to expand its client base and prepare for a recovery.

The Beijing-based bank has tied up with Shenyin and Wanguo Securities and Ctrip.com to launch a co-branded debit card yesterday in Shanghai. Read the rest of this entry »

China’s top commercial banks have vowed to support the country’s grand railway projects by forging strategic ties with the railway ministry, the Shanghai-based Oriental Morning Post reported on Tuesday.

Industrial and Commercial Bank of China (ICBC), the country’s largest lender, announced yesterday that it has inked a strategic cooperative agreement with the Ministry of Railways (MOR) to ensure capital demand for the country’s railway construction in the coming years. Read the rest of this entry »