China Eximbank President Zhang Qingsong attended the second Belt and Road Bankers Roundtable (BRBR) on April 24th and delivered a speech in the session themed “the Direction of and Consensus on Jointly Promoting Financial Cooperation under the Belt and Road Initiative”.
Zhang Qingsong said that China Eximbank, guided by the spirit of President Xi Jinping’s speeches on the Belt and Road Initiative, adhered to the principle of extensive consultation, joint contribution and shared benefits, followed the rules of market economy and international practices, dedicated itself to promoting infrastructural connectivity and industrial cooperation. The Bank has financed more than 1,800 projects in over 50 countries, with an outstanding balance of RMB1 trillion, which has contributed to the economic and social development of host countries.
Zhang Qingsong put forward four suggestions on furthering Belt and Road financial cooperation: first, promoting sustainable development of host countries to achieve debt sustainability; second, paying closer attention to the social influence and overall benefits of projects; third, forging cooperation in third markets; and fourth, giving better play to the role of Renminbi in Belt and Road financing.
During the second BRBR, 8 out of the 35 projects recommended by 18 member institutions were awarded 2017-2018 Best Cooperation Projects through online voting by the 49 member institutions, among which the Egyptian EETC 500kv Transmission Lines Project is financed by a syndication led by China Eximbank, and the Zijing Mining Group Co., Ltd. M&A transaction is financed by Fujian Branch of China Eximbank.
Deputy Governor of the People’s Bank of China, senior official of the China Banking and Insurance Regulatory Commission, and senior executives of major member institutions of the Belt and Road Inter-bank Regular Cooperation Mechanism from various countries and regions were invited to the second BRBR, which aimed to review the progress of cooperation among all members, build consensus on supporting high-quality development in countries and regions along the Belt and Road, and exchange views on strengthening third-market cooperation, green finance, risk management, capital market cooperation, and etc..