China EximBank ups support for new tech-intensive green trio

BEIJING -- The Export-Import Bank of China (China EximBank) said Tuesday that it stepped up loan support for the country's new tech-intensive green trio, namely lithium-ion batteries, electric vehicles, and solar batteries, last year.

The outstanding loans to new tech-intensive green trio companies exceeded 81 billion yuan ($11.4 billion) in 2023, up 28.11 percent year-on-year, it said.

By the end of last year, the outstanding loans to the foreign trade industry reached 3.24 trillion yuan, up 13.06 percent yearly.

The majority of the new loans went to manufacturing, wholesale and retail, transport, warehousing, and postal industries.

The China Eximbank is a state-funded and state-owned policy bank supporting China's foreign trade, investment, and international economic cooperation.