Export–Import Bank of China

The Export–Import Bank of China, commonly called China Exim Bank, is one of China's three major policy banks and a principal state instrument for promoting foreign trade, overseas investment, international economic cooperation, and Chinese foreign-aid objectives. Established in 1994, it operates under the authority of the State Council and differs from a conventional commercial bank because its lending is directed substantially by national economic and foreign-policy priorities. The bank supports Chinese exports by financing foreign buyers, governments, public agencies, and companies that purchase Chinese goods and services. Its activities are concentrated in capital-intensive sectors where transactions often require long maturities and substantial public or sovereign support. These sectors include transportation infrastructure, electricity generation, telecommunications, oil and gas pipelines, water treatment, industrial facilities, mining, and other large engineering and construction projects. It also lends to Chinese companies establishing or expanding operations outside mainland China. Its principal instruments include export credits, buyers' credits, investment loans, and other forms of project or trade finance. Export credit can support Chinese suppliers or contractors directly, while buyers' credit is extended to an overseas borrower so that the borrower can purchase Chinese equipment, construction, engineering, or other services. The bank also administers China's preferential loan program, commonly described as the Two Preferential Loan Program. This includes concessional loans and preferential export buyers' credits. Concessional loans are generally made to foreign governments or public agencies on interest-free or below-market terms and are subsidized by the Chinese government as part of its foreign-aid system. Preferential buyers' credits generally finance purchases from Chinese suppliers and are commonly denominated in United States dollars. China Exim Bank is the only institution authorized to issue and manage China's government concessional loans. The loans can have long maturities and extended grace periods, allowing recipient governments to finance infrastructure that may not be able to attract ordinary commercial credit. The bank's policy role therefore combines trade promotion, industrial support, development finance, and diplomatic engagement. The institution is a major lender for overseas infrastructure involving Chinese contractors and suppliers. It has been associated with projects connected to the Belt and Road Initiative, particularly in Africa, South Asia, and Southeast Asia. Alongside China Development Bank and the Silk Road Fund, it forms part of the broader financing architecture supporting Chinese economic engagement abroad. Its overseas portfolio has not been disclosed comprehensively, making precise comparisons difficult, but external observers have characterized its export-finance activity as exceptionally large by international standards. China Exim Bank has also participated in debt relief, refinancing, maturity extensions, and sovereign debt restructuring. These activities became especially visible after the COVID-19 pandemic, when several borrowing countries experienced foreign-exchange shortages and debt distress. Examples include debt-relief measures for Angola, financing and restructuring support associated with Sri Lanka, and extensive infrastructure lending in the Maldives. The bank's role in such cases reflects its position as both a creditor and an instrument of China's wider international economic policy. The bank remains wholly state-owned. It broadened its funding base through bond issuance beginning in 1999 and received a significant recapitalization from China's foreign-exchange reserves in 2015. As reported for 2019, Buttonwood Investment Holding Company Ltd.

The Export–Import Bank of China was created in 1994 as a state-owned policy bank designed to implement China's foreign-trade, industrial-development, overseas-investment, and foreign-aid policies. Its creation reflected the government's effort to establish specialized financial institutions capable of supporting national economic objectives that were not always served by ordinary commercial lending. The bank joined China Development Bank and later other policy-finance institutions as part of the country's state-directed financial architecture. From its beginning, China Exim Bank focused on transactions connected with Chinese exports and international economic cooperation. It provided financing to overseas governments, public agencies, state-owned enterprises, private borrowers, and Chinese companies engaged in international projects. Its support commonly covered the purchase of Chinese machinery, equipment, engineering, construction, telecommunications systems, power-generation assets, transport infrastructure, energy facilities, and industrial inputs. The bank's lending structure enabled foreign borrowers to obtain long-term funding while linking that funding to Chinese goods, services, and contractors. The institution's role expanded during the 2000s as Chinese companies became increasingly active in overseas construction, energy, mining, manufacturing, and infrastructure. The bank became an important source of finance for large projects in Africa, South Asia, Southeast Asia, and other developing regions. Sri Lanka's Hambantota Port illustrates this development. After the country was unable to obtain the desired financing from the United States or India, Sri Lankan and Chinese officials developed a framework for Chinese participation, and China Exim Bank subsequently provided major project financing. The bank remained a significant Sri Lankan creditor in later years. China Exim Bank also administers China's government concessional lending. It is the sole Chinese institution authorized to issue and manage concessional loans on behalf of the central government. The principal preferential-lending framework contains two related instruments: concessional loans and preferential export buyers' credits. Concessional loans are generally provided to foreign governments or public agencies at zero or below-market interest rates, with long repayment periods and grace periods. They are subsidized through government resources and form part of China's foreign-aid system. Preferential export buyers' credits are designed to help overseas borrowers purchase Chinese goods and services; although their pricing can be below ordinary commercial rates, they are generally treated as commercial export finance rather than direct aid. The bank's importance grew further as China developed the Belt and Road Initiative. Alongside China Development Bank and the Silk Road Fund, China Exim Bank became one of the principal institutions financing infrastructure and economic-cooperation projects associated with the initiative. Its projects have included transport links, airports, ports, electricity systems, water facilities, telecommunications networks, and industrial developments. The bank's approach has typically combined sovereign or public-sector lending with requirements or incentives favoring Chinese equipment, suppliers, engineering firms, and construction companies. Funding and capitalization have evolved alongside the bank's international expansion. In 1999 it began issuing bonds through auction mechanisms, broadening its funding base. In 2015 the Chinese government used foreign-exchange reserves to recapitalize the institution, materially increasing its ability to support overseas lending. Reporting for 2019 described the bank as entirely state-owned, with Buttonwood Investment Holding Company Ltd., owned by the State Administration of Foreign Exchange, as majority shareholder and the Ministry of Finance holding a minority position. The bank's overseas activities have also exposed it to sovereign-credit and political risks. Because many projects are located in developing countries, China Exim Bank has taken part in refinancing, debt-relief, maturity-extension, and restructuring discussions. During the COVID-19 period it granted debt relief to Angola, although the cited material does not disclose the amount. In Sri Lanka, where a severe economic crisis led to sovereign default and IMF negotiations, the bank provided assurances and repayment extensions in 2023. These actions demonstrate the institution's dual status as a creditor and a policy instrument responding to broader diplomatic and economic priorities. China Exim Bank maintains a network of mainland branches, including offices in Beijing, Shanghai, Shenzhen, Tianjin, Guangdong, Fujian, Jiangsu, Zhejiang, Hubei, Hunan, Sichuan, Yunnan, Xinjiang, and other major regions. Its governance structure includes executive directors, representatives of shareholder agencies, and directors from the National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, and State Administration of Foreign Exchange. The bank is not a consumer brand and is not publicly listed; its principal stakeholders and counterparties are governments, policy agencies, exporters, infrastructure sponsors, financial institutions, and companies participating in China's international economic activity. The Export-Import Bank of China is a state policy bank established with state funding and directly under the State Council. It was created to support China's foreign economic and trade investment development and international economic cooperation, and it holds independent legal person status. Over the years, it has relied on national credit support and played an important role in stabilizing growth, adjusting structure, supporting foreign trade development, and implementing the "Going Global" strategy, while increasing support for key areas and weak links. As of the end of 2024, the bank had established 32 operating branches and a Hong Kong representative office within China, and overseas it had a Paris branch and representative offices in Southeast Africa, St. Petersburg, Northwest Africa, Poland, Chile, and Uzbekistan. In 2026, the Ministry of Finance announced it would inject 30 billion yuan into the bank, which the bank described as fully demonstrating the state's high regard for and strong support of policy finance. The bank continues to operate under the leadership of the State Council, serving national strategies such as the "Belt and Road" Initiative, international production capacity and equipment manufacturing cooperation, and the "going global" of technology, culture, and small and medium-sized enterprises. China Exim Bank maintains a network of mainland branches, including offices in Beijing, Shanghai, Shenzhen, Tianjin, Guangdong, Fujian, Jiangsu, Zhejiang, Hubei, Hunan, Sichuan, Yunnan, Xinjiang, and other major regions. As of the end of 2024, it had 32 operating branches and a Hong Kong representative office within China, and overseas it had a Paris branch and representative offices in Southeast Africa, St. Petersburg, Northwest Africa, Poland, Chile, and Uzbekistan. Its governance structure includes executive directors, representatives of shareholder agencies, and directors from the National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, and State Administration of Foreign Exchange. The bank is not a consumer brand and is not publicly listed; its principal stakeholders and counterparties are governments, policy agencies, exporters, infrastructure sponsors, financial institutions, and companies participating in China's international economic activity. In 2026, the Ministry of Finance announced it would inject 30 billion yuan into the bank, which the bank described as fully demonstrating the state's high regard for and strong support of policy finance. The bank continues to operate under the leadership of the State Council, serving national strategies such as the "Belt and Road" Initiative, international production capacity and equipment manufacturing cooperation, and the "going global" of technology, culture, and small and medium-sized enterprises.

• 2026

  In 2026, the Ministry of Finance announced it would inject 30 billion yuan into the Export-Import Bank of China.

• 2026

  On January 28, 2026, the bank held its 2026 annual work conference in Beijing.

• 2026

  On January 29, 2026, the bank held its 2026 party conduct and clean government construction and discipline inspection work and warning education conference in Beijing.

• 2026

  On January 27, 2026, the bank's party committee held an expanded meeting to review branch party committee secretaries' grassroots party building work for 2025.

• 2024

  As of the end of 2024, the bank had 32 operating branches and a Hong Kong representative office in China, and overseas offices including a Paris branch and representative offices in Southeast Africa, St. Petersburg, Northwest Africa, Poland, Chile, and Uzbekistan.

• 2023

  Sri Lankan debt-restructuring support

  [1]Export–Import Bank of Chinaen.wikipedia.org

  The bank provided financing assurances and maturity extensions in connection with Sri Lanka's sovereign debt restructuring and IMF-supported program.

• 2022

  ASEAN infrastructure cooperation with ESR

  [1]Export–Import Bank of Chinaen.wikipedia.org

  The bank entered an agreement with ESR Group to support infrastructure investment in ASEAN member states.

• 2015

  State recapitalization

  [1]Export–Import Bank of Chinaen.wikipedia.org

  China used foreign-exchange reserves to recapitalize the bank and increase its lending capacity.

• 2014

  Complementary role in Belt and Road finance

  [1]Export–Import Bank of Chinaen.wikipedia.org

  After the creation and capitalization of the Silk Road Fund, China Exim Bank continued to act as a complementary lender for projects associated with China's Belt and Road framework.

• 2007

  Major Hambantota financing is agreed

  [1]Export–Import Bank of Chinaen.wikipedia.org

  Following government-level discussions and a visit by Sri Lankan President Mahinda Rajapaksa to China, China Exim Bank agreed to provide the project's initial major loan.

• 2006

  Sri Lankan parties encourage Chinese participation in Hambantota Port

  [1]Export–Import Bank of Chinaen.wikipedia.org

  Sri Lanka and China agreed to encourage Chinese participation in the port project and to use concessional Chinese financing for its development.

• 1999

  Bond issuance begins

  [1]Export–Import Bank of Chinaen.wikipedia.org

  The bank began issuing bonds through auction mechanisms to diversify and expand its funding base.

• 1994

  Establishment of China Exim Bank

  [1]Export–Import Bank of Chinaen.wikipedia.org

  China established the bank as a wholly state-owned policy institution to support foreign trade, industrial development, overseas investment, and foreign aid.

A state-owned policy-finance institution supporting Chinese exports, overseas investment, international economic cooperation, infrastructure development, and China's foreign-aid system. A national policy bank serving China's open economy and supporting enterprises to go global.

• Trade and export finance

  Export credit

  Financing designed to support the export of Chinese goods, equipment, engineering, construction, and services. It can provide working-capital or transaction support to Chinese exporters and longer-term financing for overseas buyers involved in large purchases or projects. Credit extended to a foreign government, public agency, company, or other borrower so that it can purchase Chinese products and services. The instrument is particularly important for infrastructure and industrial projects supplied or constructed by Chinese firms.

• Foreign-aid finance

  Concessional government loans

  Government-supported loans made to developing-country governments or agencies at zero or below-market interest rates. They are part of China's foreign-aid system, can have maturities of up to 20 years, and may include a grace period of as long as seven years according to the cited reference material.

• Policy-directed export finance

  Preferential export buyers' credit

  A preferential financing product intended to enable foreign borrowers to purchase Chinese goods and services. It is generally denominated in U.S. dollars and, despite concessional pricing, is commonly classified as commercial export finance rather than a direct government-aid loan.

• International project finance

  Overseas project and investment loans

  Loans supporting infrastructure, energy, mining, industrial, telecommunications, transport, water, and other projects involving Chinese companies or suppliers overseas. The bank also finances Chinese firms establishing or expanding foreign operations. Loans supporting overseas investment by Chinese companies, part of the bank's approved business scope.

• Sovereign and institutional finance

  Debt restructuring and refinancing support

  Rescheduling, refinancing, maturity-extension, and related arrangements for borrowers experiencing financial stress. These activities have become particularly relevant in sovereign debt negotiations involving countries with major China Exim Bank exposures.

• Trade and export finance

  Import credit

  Financing to support imports, part of the bank's approved business scope covering short-, medium-, and long-term loans in support of national foreign trade.

• International project finance

  Loans for overseas contracted projects

  Loans supporting overseas contracting projects undertaken by Chinese companies, part of the bank's approved business scope.

• Trade and export finance

  Trade finance

  Trade finance services including guarantees, letters of credit, and forfaiting, part of the bank's approved business scope.

• 2024

  Liu Liange sentenced to death with two-year reprieve in first instance for bribery and illegal issuance of loans

  On November 26, 2024, the Jinan Intermediate People's Court sentenced Liu Liange, former chairman of Bank of China, to death with a two-year reprieve in the first instance. He was found to have accepted bribes of more than 121 million yuan and to have illegally issued loans of more than 3.32 billion yuan, causing losses of more than 190.7 million yuan; the conduct related to his tenures at the Export-Import Bank of China and Bank of China.

  Source

• 2020

  China Banking and Insurance Regulatory Commission Guizhou Bureau fines China Exim Bank’s Guizhou branch

  In a regulatory action, the China Banking and Insurance Regulatory Commission Guizhou Bureau fined the Guizhou branch of the Export–Import Bank of China RMB 200,000. The penalty concerned conduct described as an untrue trade background and the improper acceptance of interbank repurchase commitments. The regulator announced the fine, and the branch was the subject of the disciplinary measure. The action was reported in March 2020.

  Source

Read more

• 2023

  Extend Sri Lankan debt maturities during restructuring negotiationsOther

  Background

  Sri Lanka entered sovereign debt distress and required creditor support while negotiating an IMF-supported economic program.

  Action taken

  China Exim Bank provided financing assurances and extended repayments that had originally been due in 2022 and 2023.

  Aftermath

  The measures contributed to the broader restructuring process, although the cited material does not specify the complete financial terms.

  Source

• 2015

  Increase lending capacity through recapitalizationStrategy

  Background

  China's expanding overseas trade and infrastructure activity required greater policy-bank capacity.

  Action taken

  China used foreign-exchange reserves to recapitalize China Exim Bank.

  Aftermath

  The recapitalization strengthened the bank's ability to extend overseas loans and support large international projects.

  Source

• 1999

  Diversify funding through bond auctionsStrategy

  Background

  The bank needed a broader funding base to support the scale of its policy-lending operations.

  Action taken

  China Exim Bank began issuing bonds through auction mechanisms.

  Aftermath

  Bond issuance became an additional source of funding for its export and overseas project-finance activities.

  Source

• 1994

  Create a dedicated policy bank for export and international cooperationStrategy

  Background

  China sought a specialized institution capable of implementing government priorities in foreign trade, industrial development, overseas investment, and foreign aid.

  Action taken

  The government established China Exim Bank as a wholly state-owned policy-finance institution under the authority of the State Council.

  Aftermath

  The bank became a central instrument for financing Chinese exports and overseas projects involving Chinese companies.

  Source

• Unconfirmed

  China Banking and Insurance Regulatory Commission Guizhou Bureau fines China Exim Bank’s Guizhou branch[7]China Banking and Insurance Regulatory Commission Guizhou Bureau fines China Exim Bank’s Guizhou branchfinance.sina.com.cn

  The China Banking and Insurance Regulatory Commission Guizhou Bureau fined China Exim Bank’s Guizhou branch RMB 200,000 over conduct described as an untrue trade background and improper acceptance of interbank repurchase commitments.

• 2019.11.06

  Reported2019.11.08

  CAMCE and Export-Import Bank of China sign financing cooperation agreement[8]中工国际与中国进出口银行签署融资合作协议finance.sina.com.cn

  CAMCE and the Export-Import Bank of China signed a financing cooperation agreement under which the bank will use its “CIIE Financing” service plan to extend financial support for imports and provide services to overseas companies.

Read more

1. 1Export–Import Bank of Chinaen.wikipedia.org
2. 2中国进出口银行eximbank.gov.cn
3. 3机构概况_中国进出口银行eximbank.gov.cn
4. 4企业文化_中国进出口银行eximbank.gov.cn
5. 5下载中心_中国进出口银行eximbank.gov.cn
6. 6Liu Liange sentenced to death with two-year reprieve in first instance for bribery and illegal issuance of loansspp.gov.cn
7. 7China Banking and Insurance Regulatory Commission Guizhou Bureau fines China Exim Bank’s Guizhou branchfinance.sina.com.cn
8. 8中工国际与中国进出口银行签署融资合作协议finance.sina.com.cn