(26 October 2012 – China) The China Banking Regulatory Commission (CBRC) reported outstanding trade financing between banks and China’s exporters and importers amounted to US$469 billion ($457 billion) in September, up 34 percent year-on-year.The percentage was 17.8 points higher than the average growth of loans in the banking sector in both RMB and foreign currencies, said the CBRC.
The financing volume comprised both RMB-denominated and foreign currency-denominated financing from banks.
CBRC has encouraged banks to step up lending support for China’s exporting and importing enterprises, and set reasonable interest rates and service charges.
These are efforts to reduce companies’ financing costs and boost foreign trade.