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The Export-Import Bank of China (China Exim Bank) has pledged to expand buyer's credit to improve export support for Chinese companies.

"While continuing to beef up seller's credit business, we will lose no opportunities to expand buyer's credit business," said Yang Zilin, president of China Exim Bank.

Buyer's credit, which features a lower interest rate and a longer period of time, is a popular practice on the international financial market, analysts said.

China Exim Bank will beef up co-operation with foreign financial institutions to provide flexible financing services for both domestic and foreign companies, Yang said.

As one of the country's policy banks mainly supporting exports, China Exim Bank has always given key support to export of machinery and electronics products, as well as high and new technology products.

Last year, the bank helped export those products valued at US$131.3 billion.

The outstanding amount of loans by the bank reached 104 billion yuan (US$12.5 billion).

By the end of last year, the bank's non-performing loans dropped 1.3 percentage points from the year-beginning to 3.7 per cent.

With increased financial strength, Yang said his bank would also beef up support for Chinese companies which plan to invest in foreign countries.

China Exim Bank would not only provide more long-term credit with lower interest rate for these companies in the coming years, but also help them explore more investment areas in foreign countries, he said.

"The export and import banks in many foreign countries have given more emphasis on supporting companies to invest in other countries, rather than supporting exports of commodities," Yang said.

The role of supporting company investment by these banks had been further enhanced in recent years, when economic globalization process went deeper and the combination between international trade and international investment became closer, he said.

China Exim Bank would provide quality and highly efficient financial services for Chinese companies "going outward," Yang said.

China Exim Bank would expand loan services to Chinese companies which engage in processing trade or contract projects in foreign countries, he said.

The bank would provide first priority credit for export of equipment, technology and raw materials, which are demanded by the overseas investment projects, he said.

The bank would also support Chinese companies engaging in project contracting, resources exploration and manufacturing business in countries where the Chinese Government provides preferential loans, he said.

"Helping domestic companies invest in foreign countries plays an important role in maintaining a sustainable and healthy economic growth in China," Yang said.

China's fast economic growth during the past two decades created miracles among the international arena.

But problems still exist, he said. The insufficient demand and overproductivity of some industries still threat the country's sound economic development.

To solve these problems, the government could encourage domestic companies to invest in foreign countries, besides adjusting the economic structure and promoting the upgrade of industries

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