China EximBank backs foreign trade in Shanghai with 10b yuan bond

The Export-Import Bank of China released on Thursday a 10-bllion-yuan ($1.4 billion) bond to stabilize foreign trade.

With one-year maturity, the bond will be used to support Shanghai-based foreign trade companies from the industries of shipping, high-tech, energy supply, and those from the key sectors along the industrial and supply chains. The product has already received much subscription from investors.

Public data shows that China EXIM has issued more than 100 billion yuan of foreign trade-themed bonds, effectively connecting credit and bond markets to direct more financial resources to key areas like foreign trade.

The launching ceremony was held on Thursday, which was part of the Lujiazui Forum coming to its 16th edition this year.